Economy Now

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Economy recovers, income doesn't

August 22, 2013: 10:42 AM ET

The nation may be in better economic shape, but that doesn't mean Americans' paychecks are.

Median annual household income has fallen 4.4% to $52,098 in the four years since the economic recovery began.

Black Americans took the biggest income hit since the Great Recession ended.

Median household income for blacks dropped by more than $4,000 to $33,519. Whites, on the other hand, saw their median income slip just over $2,000 to $58,000.

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Married couples and single women, meanwhile, have fared better than single mothers and men living alone.

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And those who are starting and those nearing the end of their careers have also taken big income hits, while senior citizens saw their incomes climb.

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  • Obama: How we could get to 6% unemployment rate

    The construction industry and state and local governments are among the biggest drags on the nation's economic recovery, President Obama said Wednesday.

    If those two sectors were recovering as they have in previous recessions, the unemployment rate would be in the 6% range, the president told a group of digital journalists gathered at the White House.

    If these areas were to have a similar rebound now, each one would take a point MORE

    - Apr 4, 2012 7:20 PM ET
  • Millionaires add to their ranks

    They're moving on up.

    The number of millionaire households rose by 200,000 to hit 8.2 million in 2011, according to new research by the Spectrem Group. These folks had at least a million dollars in assets, not including their primary residence.

    Though their ranks have been expanding for three straight years, there are still fewer millionaires in the U.S. than there were before the Great Recession. In 2007, millionaires numbered 9.2 million.

    Millionaires MORE

    - Mar 22, 2012 9:34 AM ET
  • Asians and Hispanics find more jobs

    Hispanics and Asians suffered a lower rate of job loss in the recession and enjoyed a faster rate of growth during the recovery than their black and white counterparts.

    Hispanics experienced only a 2.4% loss in employment during the Great Recession, followed by a 6.5% gain during the recovery, according to a new report from the Pew Hispanic Center.

    Asians had a similar experience, with a 2.8% job loss and a 6.8% MORE

    - Mar 21, 2012 11:05 AM ET
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Economic Calendar
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Home pricesAug 28
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