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Recovery, at least in terms of household income. the economy has been growing since june 2009, albeit slowly, yet incomes have fallen dramatically since then. how can that be? because stubborn unemployment is suppressing income levels. during the recession, the average length of a worker s period of unemployment shot up by 45%, from 16 1/2 weeks to six months. during our so-called recovery, the average period a worker spending finding a new job rose by 68% to 10 months. many people, to get a job, they have to take a job that perhaps is involves a pay cut for them, or it s in a different line of work that they have to learn, where they re starting at a lower level. so all of those factors combined together to produce a more difficult situation for people. as usual, those demographic groups already struggling felt the drop in incomes the hardest, with african americans registering the highest rate of decline of any racial group, but prime factor weighing down our ....
Recovery, at least in terms of household income. the economy has been growing since june 2009, albeit slowly, yet incomes have fallen dramatically since then. how can that be? because stubborn unemployment is suppressing income levels. during the recession, the average length of a worker s period of unemployment shot up by 45%, from 16 1/2 weeks to six months. during our so-called recovery, the average period a worker spending finding a new job rose by 68% to 10 months. many people, to get a job, they have to take a job that perhaps is involves a pay cut for them, or it s in a different line of work that they have to learn, where they re starting at a lower level. so all of those factors combined together to produce a more difficult situation for people. as usual, those demographic groups already struggling felt the drop in incomes the hardest, with african americans registering the highest rate of decline of any racial group, but prime factor weighing down our ....