Household Incomes Down Again in August

(Newsroom America) -- Median household incomes fell once more in August, dipping 1.1 percent to $50,678, in another sign that the economy continues to lag, according to a report released Tuesday by Sentier Research.

Since the end of the so-called Great Recession in 2009, according to Sentier figures, household incomes are down 5.7 percent. Household incomes are down more than 8 percent since Obama took office, Investors Business Daily reported.

"Even though we are technically in an economic recovery, real median annual household income is having a difficult time maintaining its present level, much less recovering," Sentier co-founder and former Census Bureau official Gordon Green said.

The bureau released figures earlier this month showing that the number of Americans living in poverty was 3 million higher in 2011 than in 2009, an increase of about 6 percent.

"That report also found that average incomes for middle- and lower-income households fell in 2011 after adjusting for inflation," IBD reported. "They rose only for the wealthiest 20 percent of households."

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