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What's up? Not Income and Earnings. |
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From Economic Policy Institute: Historically, typical families could expect to see annual increases in their earnings to help cope with financial challenges, improve their standard of living, or just save for a rainy day. In an alarming reversal of past progress, real household income for the typical family has declined over the last seven years. Despite increases over the prior two years, median household income for 2006 (the last year for which data are available) is still $1,043 below its peak in 1999. This is in stark contrast with a 0.33% decline in the 2000s since hitting a peak in 1999. For full-time, year-round workers, earnings for both men and women have fallen for three years in a row, and between 2005 and 2006, annual median earnings fell by $482 for men, and $388 for women. These median earnings are $2,353 below peak levels for men and $1,335 below peak levels for women. Even with additional members seeking full-time work, families are still seeing little improvement in their bottom line as median earnings continue to fall.
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