Report: Median Income Worse Now Than It Was During Great Recession

[Lovebears65]

Report: Median Income Worse Now Than It Was During Great Recession « CBS DC


yet the left says they are doing better, I guess they got a bump in their food stamps. they probably now dont have to pay their medical because they get medicaid now .. Guess what someone else is paying it just aint coming your pocket..

 

[Sinjorri]

obama will change it, hes down to clicking his heels three times and changing whatever he wants.

 

[SniperFire]

President Downgrade strikes again.

 

[Mr. Peepers]

You can place that blame squarely on the backs of the private sector and their cronies in congress. Jobs that once paid $20 an hour now suddenly pay $10 with 75 people desperately applying for them. At the same time, CEO salary has gone up 400%. No one is getting raises or bonuses... exept for those at the top, but they sure as hell are doing the jobs of 3 people (themselves and the two poor slobs that got laid off previously). Hmmm... I see a correlation here. Our corporatist policies are directly responsible for this.

 

[Mr. Peepers]

Trickle down poverty

 

[g5000]

From the OP link:

According to Pew, the Census Bureau showed that the median income for American households in 2009 – the official end of the Great Recession – was $52,195 (in 2011 dollars), while the median income dipped to $50,054 last year, falling 4.1 percent over two years.

“The decrease in household income from 2009 to 2011 almost exactly equaled the decrease in income in the two years of the recession,” the Pew report stated. “During the Great Recession, the median U.S. household income (in 2011 dollars) dropped from $54,489 in 2007 to $52,195 in 2009, a loss of 4.2 percent. By this yardstick, the recovery from the Great Recession is bypassing the nation’s households.”

 

[g5000]

You can place that blame squarely on the backs of the private sector and their cronies in congress. Jobs that once paid $20 an hour now suddenly pay $10 with 75 people desperately applying for them. At the same time, CEO salary has gone up 400%. No one is getting raises or bonuses... exept for those at the top, but they sure as hell are doing the jobs of 3 people (themselves and the two poor slobs that got laid off previously). Hmmm... I see a correlation here. Our corporatist policies are directly responsible for this.

I'm sure you have the evidence for every bit of this occuring over the past two years and aren't just blowing shit out of your ass. But just in case, let's see that evidence.

.

 

[SniperFire]

You can place that blame squarely on the backs of the private sector and their cronies in congress. Jobs that once paid $20 an hour now suddenly pay $10 with 75 people desperately applying for them. At the same time, CEO salary has gone up 400%. No one is getting raises or bonuses... exept for those at the top, but they sure as hell are doing the jobs of 3 people (themselves and the two poor slobs that got laid off previously). Hmmm... I see a correlation here. Our corporatist policies are directly responsible for this.

dude.


Din't you hear?

'The private sector is doing fine.'

 

[Mr. Peepers]

'The private sector is doing fine.'

The companies themselves and the executives are doing very fine. The rest of the workers in that company, not so much.

 

[SniperFire]

'The private sector is doing fine.'

The companies themselves and the executives are doing very fine. The rest of the workers in that company, not so much.

You calling Obama a liar?!

 

[Mr. Peepers]

I'm sure you have the evidence for every bit of this occuring over the past two years and aren't just blowing shit out of your ass. But just in case, let's see that evidence.

Why only two years? The shit storm began in 2006 with the housing market collapse, remember? All you have to do is open your eyes... and a newspaper.

From 2007, when the fit was hitting the shan:
Economy’s Gains Fail to Reach Most Workers’ Paychecks | Economic Policy Institute

From 2011:
CEO-to-worker pay imbalance grows | Economic Policy Institute

From 2012
Low-wage jobs explosion - Aug. 31, 2012

And:
http://economywatch.nbcnews.com/_ne...-long-slump-pushing-many-down-the-ladder?lite

 

[g5000]

I'm sure you have the evidence for every bit of this occuring over the past two years and aren't just blowing shit out of your ass. But just in case, let's see that evidence.

Why only two years? The shit storm began in 2006 with the housing market collapse, remember? All you have to do is open your eyes... and a newspaper.

The subject is the decline of household income since the recession. That was the timeframe. During Obama's watch.

So please produce the evidence for the following claims you have made:

1. Jobs are paying half what they were before Obama. (A $20/hr job now pays $10/hr)

2. There are 75 applicants for every job opening.

3. CEO salaries have risen 400%.

4. No one is getting raises or bonuses.

From 2007, when the fit was hitting the shan:
Economy’s Gains Fail to Reach Most Workers’ Paychecks | Economic Policy Institute

From 2011:
CEO-to-worker pay imbalance grows | Economic Policy Institute

From 2012
Low-wage jobs explosion - Aug. 31, 2012

None of your links support any of your claims, even if one starts from 2006!

.

 

[g5000]

Debunking the 75 applicants per job opening claim:

When the most recent recession began (December 2007), the number of unemployed persons per job opening was 1.8. When the recession ended (June 2009), there were 6.2 unemployed persons per job opening.

The unemployed persons per job opening ratio has trended downward since the end of the recession and was 3.5 in July 2012.

http://www.bls.gov/web/jolts/jlt_labstatgraphs.pdf

 

[g5000]

Debunking the claim CEO salaries have risen 400%:

The average CEO pay of companies in the S&P 500 Index rose to $12.94 million in 2011.[1] Overall, the average level of CEO pay in the S&P 500 Index increased 13.9 percent in 2011, following a 22.8 percent increase in CEO pay in 2010.

Trends in CEO Pay

 

[LadyGunSlinger]

Unfortunately for the Zombie Squad, numbers don't lie. Their entire campaign is built on a house of cards.. from polls to all of the lies and misinformation we're seeing.. It's PANIC TIME. They're going to lose..

 

[g5000]

Unfortunately for the Zombie Squad, numbers don't lie. Their entire campaign is built on a house of cards.. from polls to all of the lies and misinformation we're seeing.. It's PANIC TIME. They're going to lose..

I'm not so sure. The Right is as stupid as the Left these days. It should be a cake walk to trounce Obama. That Romney is neck and neck with him instead speaks volumes about the quality and the character of the Right today.

.

 

[Mr. Peepers]

Jobs are paying half what they were before Obama. (A $20/hr job now pays $10/hr)

What part of "most jobs being created are low wage" do you not understand?
Also, here's a quote:

"In such a weak economy, it’s not uncommon for someone who loses a job to take one that pays less. A government survey of workers who were displaced between January 2009 and December 2011 showed that out of the three million people who lost a full-time job they’d held for more than three years and found a new one, fewer than half were making as much as they once had.

Heidi Shierholz, an economist with the Economic Policy Institute, said that’s been an especially big problem in the past few years, because jobs have been so scarce.

“If you lost your job in 1999, you were pretty much able to find a job that was similar to the one you lost,” she said. “But right now, if you lost your job in the Great Recession or its aftermath, you just got slammed in your wages.”

4. No one is getting raises or bonuses.

This one I can speak of from experience. None at my co. until last year. Also, lots of people are taking pay cuts as well. You know the executives and CEO got theirs, though - and I am FAR from alone.

Household income falls more after recession - SFGate
The recession and pay: The quiet Americans | The Economist

There are 75 applicants for every job opening.

That was actually the number at the height of the crap in 2009 according to careerbuilder.com, but it hasn't improved much. I can't seem to find a reliable number of how many applicants vie for each of these wonderful new low-paying jobs. I'll keep looking.

3. CEO salaries have risen 400%.

CEO salaries are up 400% since 1980. Companies apparently don't want you to know about that.

Nation & World | Companies lobby to hide disparity in CEO, worker pay | Seattle Times Newspaper

"The real reason House Republicans want to keep the typical worker's pay secret is that it may embarrass some companies to reveal that they pay their CEO in the range of 400 times what they pay their typical worker," said Sen. Robert Menendez, D-N.J., who added the requirement to the mammoth financial overhaul bill last year."

 

[Mr. Peepers]

Debunking the claim CEO salaries have risen 400%:


Quote:
The average CEO pay of companies in the S&P 500 Index rose to $12.94 million in 2011.[1] Overall, the average level of CEO pay in the S&P 500 Index increased 13.9 percent in 2011, following a 22.8 percent increase in CEO pay in 2010.

Trends in CEO Pay

380 times the average worker is pretty darn close to 400 times that of the average worker the average worker. From your own article:

The ratio of CEO-to-worker pay between CEOs of the S&P 500 Index companies and U.S. workers widened to 380 times in 2011 from 343 times in 2010.[2] Back in 1980, the average large company CEO only received 42 times the average worker's pay.

I made a typo in the original post. I meant to say 400x the average worker's pay. That's what I meant. My bad.

 

[OKTexas]

Debunking the claim CEO salaries have risen 400%:


Quote:
The average CEO pay of companies in the S&P 500 Index rose to $12.94 million in 2011.[1] Overall, the average level of CEO pay in the S&P 500 Index increased 13.9 percent in 2011, following a 22.8 percent increase in CEO pay in 2010.

Trends in CEO Pay

380 times the average worker is pretty darn close to 400 times that of the average worker the average worker. From your own article:

The ratio of CEO-to-worker pay between CEOs of the S&P 500 Index companies and U.S. workers widened to 380 times in 2011 from 343 times in 2010.[2] Back in 1980, the average large company CEO only received 42 times the average worker's pay.

I made a typo in the original post. I meant to say 400x the average worker's pay. That's what I meant. My bad.

You seem to lack a simple understanding of supply and demand, thanks to Maobama there is an abundance of workers seeking a job, so wadges go down. Good CEO's on the other hand, that can navagate a poor ecomony and keep a company profitable are not so plentiful, so they earn more. That's called a free market.

 

[Mr. Peepers]

You seem to lack a simple understanding of supply and demand, thanks to Maobama there is an abundance of workers seeking a job, so wadges go down. Good CEO's on the other hand, that can navagate a poor ecomony and keep a company profitable are not so plentiful, so they earn more. That's called a free market.

You mean like the CEO's of the banks that crashed the economy of the world - did any of them get fired? Go to jail? Face ANY repercussions? No, they did not. Or the CEO heading the LIBOR mess at Barclays? Sorry, but if you're going to have the CEO pay running everyone else into the ground, we need leverage. We need to re-institute unions in the private sector. So I guess you'll be happy when we're all making Chinese wages so your beloved corporations can make even MORE money. Awesome.
NO CEO is worth 400x that of his employees. That is exactly what is wrong with this country.

And you can thank Obama for stopping the job hemmorhage that was going on in 2008. HE DID NOT CAUSE THE JOB LOSSES. What was it, 750K leaving a month? You people have absolutely astounding lack of knowledge in history.