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US Incomes Fell More After Recession Than During It

Median household income down 6.7% between June 2009, June 2011

By Mary Papenfuss, Newser Staff

Posted Oct 10, 2011 1:19 AM CDT | Updated Oct 10, 2011 4:35 AM CDT

(Newser) – US incomes continued to fall after the 2007 recession was declared over—at an even steeper rate than during the recession, according to a recent analysis. Inflation-adjusted median household income fell 6.7% between June 2009 and June 2011. During the two-year recession, incomes fell 3.2%. The full four-year drop is the largest in several decades, reports the New York Times. Incomes continued to fall even as the economy grew stronger and unemployment fell slightly, according to an analysis of Census data.

A stronger economy was not reflected in overall wages as many people who lost work took other, lower paying jobs, pulling down the median income to close to $50,000. "As a labor economist, I do not think the recession has ended,” Princeton economics professor Henry Farber told the Times. “Job losers are having more trouble than ever before finding full-time jobs.”

So long, salary. (?Images_of_Money)

Where's the money going? (?Miran Rijavec)

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US Incomes Fell More After Recession Than During It

Median household income down 6.7% between June 2009, June 2011

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More Newser Stories

Paycheck Data Dismal in 2010

...Unless you were a millionaire

Only McDonald's Saved Us From Losing Jobs

Depressing: That one-day hiring binge kept us in the black

Unemployment Rate Rises to 9.1%

And fewer new jobs than expected were created

1 in 5 US Men Unemployed

Recession has been especially hard on traditionally male jobs

Obama to Tackle Jobs, Deficit

Pols split on how to use bailout bucks for recovery

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