Economy Recovering/Paychecks Smaller

[BLAZER PROPHET]

http://economywatch.nbcnews.com/_ne...delivers-smaller-paystubs-for-most-of-us?lite

"The average household income has fallen steadily for nearly everyone since the start of the economic expansion in June 2009, with average income dropping 4.8 percent in the three years since the upturn began, according to a report released Thursday."


"Some of the key findings:

•Older Boomers and their grown children were hit disproportionally hard. (Those in the 55- to 64-year-old bracket saw income drop 9.7 percent; those 25 to 34 saw income decline 8.9 percent).
•Seniors were the only group posting gains, with the 65-74 bracket up 6.5 percent and 75 and older up 2.8 percent.
•Western states dropped the most of any region: down 8.5 percent. The Midwest income fell least, just 1.1 percent.
•Income for blacks fell 11.1 percent, twice the rate of whites’ 5.2 percent.
•Education mattered – but a high degree was no income guarantee. College-educated individuals lost 5.9 percent, while those with just a high school diploma holders dropped 6.9 percent."



"To be fair, the relative decline of American income is decades, not presidential terms, in the making."

 

[Eastoff]

Businesses realized they could still produce with less workers and at lower rates. They aren't going to relinquish their profits just because it looks better.

 

[BLAZER PROPHET]

Businesses realized they could still produce with less workers and at lower rates. They aren't going to relinquish their profits just because it looks better.

True. Businesses can be ruthless. That said, they also realize their profits these days hang by a thread and we have an administration that's a bit inconsistent.

 

[BLAZINGGIANTS]

Huh. I got a 15% raise at the start of the year.

We're bucking the trend!

Of course, my raise would have been bigger, or included a bonus, if sales would pick up and growth wasn't being held back by the economy.

 

[EL PRESIDENTE]

yeah, i got hosed on my bonus. thanks alot Bush!