How much does the average American make in 2010? Examining new data on U.S. household income numbers and high income earners. 100 million Americans make less than $39,999 per year.
Examining the average income for Americans sheds a very troubling light on what has happened to income over a very financially destructive decade. If we look at the median household income in the U.S. this actually underplays the falling behind of wages because we are looking at households with multiple people working. Without a doubt […]
Catch 22 economics – The U.S. economy has 7,400,000 less workers than the peak in late 2007 yet nominal GDP is at a record. What does that mean for those without jobs?
The Friday jobs report was significant for a variety of reasons but one key theme is that it shows the true fragility of the state of the economy. Even though it was a net add of 39,000 jobs we need to remember that the nation needs to add roughly 150,000 jobs per month just to […]
Shipping the housing market overseas. Long-term housing prospects hinge on an economic recovery for working Americans first – No housing bottom until middle class recovers a foothold in the U.S.
The housing market can have no sustainable recovery without the employment market improving. It is incredible that over three years into this crisis that there has been little focus on coupling employment with housing. Banks argue that many are simply not paying their mortgage yet they want the Federal government to ease lending restrictions. Who […]
The status of the working and middle class American worker for fall 2010 – 42 percent of unemployed persons had been jobless for 27 weeks or more. Young workers have the highest unemployment rate on record at 19.1 percent.
There can be no sustained recovery without putting Americans back to work. We live in an odd time where GDP can be going up while middle class America is slowly dismantled. Let us be clear that the employment situation hasn’t improved. The recent job gains are largely part of the Census hiring that is now […]