US real income falls 6.7% between June 09 - June 11...9.9% from June 07 - June 11.

[Engineer]

Falls faster after recession than during. Oh well, the job creators are just waiting to unleash all of the cash during the next administration and will replace the jobs that have been eliminated, especially those sent to the lower wage "free trade" countries. Oh, and look...from June 2007 - June 2011...real incomes have fallen a magical 9.9%, but I'm sure that everyone on AT (especially ATOT) have gotten REAL 100% raises in that time period...

We were told that the "service" economy would be fine and there would be no race to the bottom.....*choke*

http://news.yahoo.com/us-incomes-fell-more-during-recession-032922170.html

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.

The data was compiled by former Census officials Gordon W. Green Jr and John F. Coder, who described the cumulative drop in income since the start of the recession to this June as "a significant reduction in the American standard of living."

A stumbling economy is the biggest barrier to President Barack Obama winning a second term in office, with unemployment stuck at 9.1 percent and faltering growth and a debt crisis in the eurozone fueling fears of a second recession.

The report follows an official Census Bureau study last month that showed the US poverty rate rose sharply in 2010 to 15.1 percent, the highest since 1993, from 14.3 percent a year earlier.

It was the fourth consecutive rise in the number of people below the poverty line, to 46.2 million.

The US definition of poverty is an annual income of $22,314 for a family of four, and $11,139 for a single person in 2010.

Foundation is crumbling.....might want to get out of the building before it falls....:whiste:

 

[Infohawk]

I wonder if someone is going to post his favorite Bureau of Labor Statistics graphs about how this isn't true...

 

[HendrixFan]

The good news is corporate profits are up!

Corporate Profits After Tax Historical Data

June 30, 2011 1.47T
March 31, 2011 1.45T
Dec. 31, 2010 1.34T
Sept. 30, 2010 1.41T
June 30, 2010 1.47T
March 31, 2010 1.42T
Dec. 31, 2009 1.39T
Sept. 30, 2009 1.24T
June 30, 2009 1.10T
March 31, 2009 1.00T
Dec. 31, 2008 643.70B
Sept. 30, 2008 1.16T
June 30, 2008 1.21T
March 31, 2008 1.19T
Dec. 31, 2007 1.31T
Sept. 30, 2007 1.28T
June 30, 2007 1.32T
March 31, 2007 1.26T

 

[Nebor]

The good news is corporate profits are up!

You guys aren't giving it enough time to trickle back down. Capitalization, reinvestment and hiring aren't instant processes. Give them about 10 years and then see how things are.

 

[senseamp]

Good news for job creators, job creation just got cheaper Still not as cheap in China, but give it some time.

 

[HendrixFan]

You guys aren't giving it enough time to trickle back down. Capitalization, reinvestment and hiring aren't instant processes. Give them about 10 years and then see how things are.

To be safe we should get rid of cumbersome EPA restrictions.

 

[Craig234]

Stories on this should also list the record INCREASES in income for the top 0.1% and corporations. It's an important part - and even a causal factor.

Fact is, if the distribution of income were like it was before Reagan, people would be well off - we wouldn't be talking about the 'bad economy'. We have wealth - it's just too concentrated.

The right whines about the tiniest bit of taxes, but when massive amounts of their income is diverted in a 'corruption tax' to the top 1%, they cheer it.

 

[Engineer]

You guys aren't giving it enough time to trickle back down. Capitalization, reinvestment and hiring aren't instant processes. Give them about 10 years and then see how things are.

Considering that the 2000's was a complete lost decade for the average worker, we should give them 20 just to make sure.

 

[IronWing]

We will prosper as free trade will allow American product designs to be exported throughout the world!

 

[Phokus]

you guys aren't giving it enough time to trickle back down. Capitalization, reinvestment and hiring aren't instant processes. give them about 10 years and then see how things are.

[size=+5]hahahahahahahahahahaha![/size]

 

[Jhhnn]

You guys aren't giving it enough time to trickle back down. Capitalization, reinvestment and hiring aren't instant processes. Give them about 10 years and then see how things are.

By then, Repubs will have attained their ideal society, and it'll look a lot like the Gilded Age.

Trickledown is a lie, the greatest deception that the Rich ever foisted off on the electorate. The only thing that ever made it look good was the massive acquisition of debt at every level other than the tippytop.

Repubs' current obsession with Cut, cut, Cut! will be their undoing, because it will reveal just how thoroughly the economy has been looted.

 

[irishScott]

Say we elect a repub and he gets lucky economically, I wonder if the Dems will pull a reverse neocon and start spouting "it's all because of Obama's policies"

 

[Anarchist420]

The corporations are doing us a favor by keeping their cash because it keeps prices down. Which means the cost for entrepreneurs is lower than it would be if the corporations didn't hold onto their cash.

 

[Zebo]

Makes sense. Tight labor market people will take/stay in anything to pay the bills. It's a labor buyer market even states are cutting employees salaries, how often you see that?

As usual, you have seen nothing yet.

 

[First]

The 9.9% loss is mostly at the top actually, middle class income hasn't fallen that fast between 2007 and 2011. You should know this Engineer, after all you're the first to dismiss real GDP per capita income as inflated by the rich. At least get your talking points straight.

But yeah, it sucks.

 

[piasabird]

Maybe there was an employment pay bubbble and the rate of pay is just adjusting lower.

 

[dmcowen674]

Maybe there was an employment pay bubbble and the rate of pay is just adjusting lower.

Republicans goal is $2 hr

At this rate it won't be long until we are there.

 

[Nebor]

Republicans goal is $2 hr

At this rate it won't be long until we are there.

I know personally, that's my goal, but I don't think many other Republicans share it.

 

[woodie1]

Republicans goal is $2 hr.

Way too generous.