This marks the first time on record that poverty and the incomes of typical working-age households have worsened despite six consecutive years of economic growth. The new data show that in terms of poverty and median income, the economic expansion that started at the end of 2001 was the worst on record. The data provide fresh evidence that the gains from the expansion were quite uneven and flowed primarily to high-income households.
Tuesday, August 26, 2008
Poverty and Share of Americans Without Health Insurance Were Higher in 2007 - And Median Income for Working-Age Households Was Lower - Than at the Bottom of Last Recession
From The Center on Budget and Policy Priorities.