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US incomes ‘fell more after than during recession’

AFP [1]
October 10, 2011

US household incomes fell more in the two years following the end of the recession than during the downturn itself, according to a New York Times report published on its website.

A study by two former Census Bureau officials said inflation-adjusted income fell 6.7 percent, to $49,909, between June 2009 — when the recession ended — and June 2011, the newspaper said.

During the recession — from December 2007 to June 2009 — household incomes fell less than half of that, 3.2 percent, according to the report.

The bigger drop in the two years after the recession suggests why Americans feel a growing sense of anxiety about the nation’s economic prospects even as the economy has been growing since the recession ended.

Full article here [1]