Courtesy of The Washington Post, comes the results of a study by Sentier Research:
Median household income is down 4.8% from the “recession”, almost twice the 2.8% drop during the recession. Median income is now $50,964 for a household. 5.2 million are out of work, with another 8.2 million only working part-time.
Households led by the self-employed saw their income drop 9.4 percent, to $66,752, the report said. Households headed by private-sector employees saw wages drop by 4.5 percent, to $63,800, and households led by government workers saw median income decline by 3.5 percent, to $77,998, the report said.
The report attributes the public sector increase to better education and ignores the powerful collective bargaining power of the government employee unions (aided and abetted by the current administration.)
It would seem the public sector is doing just fine. Also recovering nicely are large corporate profits, but how are you doing Mr. and Mrs. Small Business..?
