Although the National Bureau of Economic Research declared the end of the recession to be June 2009, the latest U.S. Census Bureau data reveals that in terms of median incomes and poverty rates, the tough times aren't behind us. What gives?
Between 2007 and 2010, 20 states — including California, Florida, Oregon, Nevada and Michigan — saw over a 20 percent rise in the poverty rate. In 2007, 13 percent of households earned less than $22,350; in 2010, that figure rises to 15.3 percent.
Adding insult to injury, median income fell by over 7 percent in 16 states over the same period. In 2007, the average family of four had a household of income of $53,347, adjusting for 2010 dollars. In 2010, that average dropped to $50,046. Check out the full infographic below. Are you surprised that poverty rates and median incomes haven't improved since the recession ended?
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(Photo credit: Pew Center on the States)
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