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Fifty percent of U.S. workers earned less than $26,364 last year, reflecting a growing income gap between the nation's rich and poor, the government reported.
There were fewer jobs, and overall pay was trending down except for the nation's wealthiest. The number of people making more $1 million or more soared by more than 18 percent from 2009, the Social Security Administration said, citing payroll data based on W-2 forms submitted by employers to the Internal Revenue Service.
Despite population growth, the number of Americans with jobs fell again last year, with total employment of just under 150.4 million down from 150.9 million in 2009 and 155.4 million in 2008. In all, there were 5.2 million fewer jobs than in 2007, when the deep recession began, according to the IRS data.
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Editor's Note: Exposed: You Owe It to Yourself to Learn What Obama and Bernanke Are Hiding From Americans
This gripping Newsmax investigative report reveals the truth about America's economic future and the disastrous path that Obamas and Bernankes reckless policies are taking us down. Watch, learn, and receive a free Survival Guide ($49 value) for your personal financial future. Click Here Now.
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The figures are just one more indication of the toll that the worst downturn since the Great Depression has taken on the U.S. economy.
They were published as demonstrations rage on Wall Street and in cities across the nation protesting a widening income gulf between average wage earners and the nation's wealthiest.
The unemployment rate remains stuck at 9.1 percent, with more than 14 million out of work and 11 million other discouraged people who have stopped looking for work or are stuck in part-time jobs. Since 1980, roughly 5 percent of annual national income has shifted from the middle calls to the nation's richest households, according to the Census Bureau.
Read more: Income Falls for Most but Millionaires Surge 18%
Important: Can you afford to Retire? Shocking Poll Results
read more Income Falls for Most but Millionaires Surge 18%
There were fewer jobs, and overall pay was trending down except for the nation's wealthiest. The number of people making more $1 million or more soared by more than 18 percent from 2009, the Social Security Administration said, citing payroll data based on W-2 forms submitted by employers to the Internal Revenue Service.
Despite population growth, the number of Americans with jobs fell again last year, with total employment of just under 150.4 million down from 150.9 million in 2009 and 155.4 million in 2008. In all, there were 5.2 million fewer jobs than in 2007, when the deep recession began, according to the IRS data.
__________________________________________________________
Editor's Note: Exposed: You Owe It to Yourself to Learn What Obama and Bernanke Are Hiding From Americans
This gripping Newsmax investigative report reveals the truth about America's economic future and the disastrous path that Obamas and Bernankes reckless policies are taking us down. Watch, learn, and receive a free Survival Guide ($49 value) for your personal financial future. Click Here Now.
__________________________________________________________
The figures are just one more indication of the toll that the worst downturn since the Great Depression has taken on the U.S. economy.
They were published as demonstrations rage on Wall Street and in cities across the nation protesting a widening income gulf between average wage earners and the nation's wealthiest.
The unemployment rate remains stuck at 9.1 percent, with more than 14 million out of work and 11 million other discouraged people who have stopped looking for work or are stuck in part-time jobs. Since 1980, roughly 5 percent of annual national income has shifted from the middle calls to the nation's richest households, according to the Census Bureau.
Read more: Income Falls for Most but Millionaires Surge 18%
Important: Can you afford to Retire? Shocking Poll Results
read more Income Falls for Most but Millionaires Surge 18%