Quote:
Originally Posted by Vendzilla
http://finance.yahoo.com/blogs/daily...172130204.html
A new study published by the Russell Sage foundation helps explain why many families feel like they?re falling behind: They actually are. The study, which measures the average wealth of U.S. households by income level, reveals a startling decline in wealth nationwide. The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago. ?There are very few signs of significant recovery from the losses in wealth suffered by American families during the Great Recession,? the study concludes.
So please, enlighten us and show us where the economy is getting better?
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This is no shock to me. A little while back I read that during the recession 60% of the jobs that were lost were what they called middle income jobs. This means jobs where the people made somewhere between about $18-$35 per hour. The rest of the job losses were split pretty evenly between lower paying and higher paying jobs.
Since the recovery began only about 20% of the new jobs created have been middle income jobs. About 20% of them have been higher paying jobs and about 60% of them have been lower paying jobs.
There are a ton of people out there that lost a job that they could live a decent life on and have had to take a job that makes much less.