Thursday, September 27, 2012

Household income down 8.2 percent since Obama took office, study shows


Median household incomes have fallen 8.2 percent since President Obama took office and continue to drop despite the official end of the  recession, a new study shows.

Data compiled by Sentier Research found that since the economic recovery technically began in June 2009, median household income has dropped 5.7 percent. As of August, that median income was $50,678 -- also down 1.1 percent from the month prior.

And since Obama took office in January 2009, the median income has fallen 8.2 percent, from $55,198 to its present figure.

"The August decline in real median annual household income is indicative of a struggling economy," Sentier said in its report.

"Even though we are technically in an economic recovery, real median annual household income is having a difficult time maintaining its present level, much less 'recovering.'"

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