A Closer Look

The aftermath of the Great Recession in US – Historically terrible for the middle class

The Census Bureau has been tracking median household income since 1967. America has endured seven recessions since then. The first five of those recessions saw a similar pattern when they ended: By the fifth year of recovery, median incomes had risen. This was true even for the recession that ended in 1980 – when the country fell back into recession a year after that recovery began. The pattern broke after the 2001 recession: Median income dipped, but still, in Year 5 of that recovery, it had climbed nearly back to where it was at recession’s end.

This time, as  the economists like to say, is different.

Capture d’écran 2014-09-18 à 08.56.12

 

Chosen excerpts by Job Market Monitor. Read the whole story at The economic recovery is historically terrible for the middle class – The Washington Post.

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Poverty declines in the US in 2013 – The Census Report and what the White House has to say

The U.S. Census Bureau announced today that in 2013, the poverty rate declined from the previous year for the first time since 2006, while there was no statistically significant change in either the number of people living in poverty or real median household income. In addition, the poverty rate for children under 18 declined from … Continue reading 

Credential Inflation – An increasing number of job seekers face being shut out of middle-skill, middle-class occupations by employers’ rising demand for a bachelor’s degree

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Polarization – The four middle skill occupations: 60 percent of employment in 1979, 46 percent in 2012

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US – Families in middle class make less than they did 5 years ago

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The US Middle Class – 20 percent poorer than it was in 1984

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Polarization in US – The declining prominence of middle-skill jobs

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Middle-Skill Jobs in US – Lobs lost in the last recession have not returned says New York Fed Pres.

Millions of U.S. teaching, construction and other middle-skill jobs lost in the last recession have not returned, exacerbating the already high unemployment that has been a drag on the U.S. recovery, New York Federal Reserve officials said on Wednesday.  These middle-skill jobs, which pay roughly $25,000 to $50,000 annually, suffered the heaviest losses in the … Continue reading 

US – A Middle Class Job No Longer Supports a Middle Class Life

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The American Middle Class – No Longer the World’s Richest , Canada now higher finds NYT

The American middle class, long the most affluent in the world, has lost that distinction.  While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades. After-tax … Continue reading 

US – What happened to the middle class? (Infographic)

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