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This New Economic Data May Be The Most Depressing (And Shocking) Yet

Image source: NYTimes [1]

Image source: NYTimes

Dec. 31, 2014

The vast majority of Americans are poorer than they were in the last year of the 20th Century, according to new data.

When they crunched the economic numbers, Washington Post researchers discovered that the average household income in 81 percent of the counties in the United States was lower in 2013 than it was in 1999, when adjusted for inflation.

“Over the past 25 years, the economy has grown 83 percent, after adjusting for inflation — and the typical family’s income hasn’t budged,” a Post series, entitled, “Why America’s Middle Class is lost,” concluded.

Income in Most US Communities Falling

A Post interactive map shows that incomes [2] in many communities is substantially less than they were in 1969. It also shows that large numbers of Americans are now in danger of falling out of the middle class [3].

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Following are some of the highlights of the map:

Of the 3,139 counties surveyed by The Post, only 380 had incomes that were at their highest in 2013.

The takeaway? The average American family and the average US community are not sharing in the economic growth or economic recovery. It also indicates that many communities, including some big cities, have seen substantial drops in income in the past five decades.

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In many American communities, income [5] is now substantially lower than it was in 1969 or 1979, the Market Madhouse blog noted. Some disturbing revelations include:

It seems that “recovery” is just a topic on the news for the vast majority of American communities.

Do you believe America’s middle class will recover? Why or why not? Share your thoughts in the section below:

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