The harder we work, the less we make. That seems to be the mantra of the Obama recovery. That is, if we have a job.
In the last four years, real median household income has fallen during both the recession and the recovery. Amazing. It's like still standing in the muck after the ebb tide.
According to Sentier Research, the June median income in the United States sat at $52,098, or 3.9% lower than in June 2009, the month tagged as the start of the recovery.
The median income of Americans continues to decline (adjusted for inflation), increasing concerns about the long-term health of the middle class and consumer purchasing patterns.
Still, it's not just the last five years that has seen the middle class take a steep dive. The trend, adjusted for inflation, is much worse.