Friday, August 29, 2014

Americans' Purchasing Power Is Down Since Great Recession Started. Wall Street Booms

Why it still feels like the recession hasn't ended. "From the start of the recession in 2007 to today, the average price of the things you buy...has risen by 15 percent. This, in itself, isn't a problem at all. The problem is that wages haven't kept pace with that increase. In fact, for all but the top wage earners, real (inflation-adjusted) earnings are actually down over the same period....These figures are from a recent Economic Policy Institute report on our mediocre wage growth....And they provide important context for a new Rutgers University poll...showing increasing pessimism in the aftermath of the Great Recession." Christopher Ingraham in The Washington Post

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