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ECONOMY: U.S. median household income up 4% at end of 2011 | The Daily Times | delmarvanow.com
After falling steadily since the recession began four years ago, household income appeared to turn the corner by rising sharply the last four months of 2011.
Inflation-adjusted median household income increased 4%, from $49,434 to $51,413, from August to December, according to a study released Thursday by Sentier Research. That's the biggest jump since the start of the recession in December 2007, according to an analysis of Labor Department data by the economic research firm.
The rise coincides with stronger job growth, modest wage increases, a longer workweek and easing inflation. "We seem to have had a turning point," says Gordon Green, co-author of the report and a former economist at the U.S. Census Bureau.
After falling steadily since the recession began four years ago, household income appeared to turn the corner by rising sharply the last four months of 2011.
Inflation-adjusted median household income increased 4%, from $49,434 to $51,413, from August to December, according to a study released Thursday by Sentier Research. That's the biggest jump since the start of the recession in December 2007, according to an analysis of Labor Department data by the economic research firm.
The rise coincides with stronger job growth, modest wage increases, a longer workweek and easing inflation. "We seem to have had a turning point," says Gordon Green, co-author of the report and a former economist at the U.S. Census Bureau.
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