Thursday, September 01, 2005

Boom & Bust

The economy's great -- if you fall into the top 20% of incomes. For the other four in five of us -- things aren't so good. Just check the latest numbers from the Census Bureau.

Start with the median household income -- half of incomes are higher, the other half lower. It's at $44,389 -- basically unchanged for five years straight. That's the record longest stretch for income stagnation.

Another 800,000 American workers lost health insurance last year -- a total of 45.8 million Americans are now uninsured. And 1.1 more Americans slipped into poverty last year -- bringing that total to 37 million.

More than half the income in the US goes to just 20% of the workforce. (NYT)

No comments: