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Professional Convention Management Association

Great Recession Still Slamming the Middle Class

by Alicia Leonard | Sep 12, 2012

September 13, 2012

The poor stayed poor and the rich got richer, but the middle slipped a few more rungs down the economic ladder.

More than five years after the Great Recession began, the lingering impact of the worst downturn in a half-century continues to deplete the standard of living of middle-class American households.

Median household income, after adjusting for inflation, fell 1.5 percent last year to $50,054, according to the Census Bureau's annual report on income and poverty issued released Wednesday. The poverty rate, at 15 percent, remained stuck at the highest level since 1993. More

Schoen, J. (September 12, 2012) Great Recession Still Slamming the Middle Class. Retrieved September 13, 2013 from http://economywatch.nbcnews.com/_news/2012/09/12/13830939-great-recession-still-slamming-the-middle-class?lite 

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