New Post-Recession Statistics

The lead article in today’s New York Times, “Median Incomes Shrunk Further After Recession,” gives some indication of the suffering of the American people even after the so-called recovery from the recession began.

The recession and financial crisis extended from December 2007 to June 2009, after which the American people were assured that economic growth was on their side.

However, new reports show that median income continued to decline through June 2011, the latest measure of this statistic. Household income fell 6.7 percent to $49,000, while during the recession, it only fell 3.2 percent.

Of course, if you’re the one who’s unemployed, all these numbers are insignificant. You’re 100 percent out of work.

And people who do lose their job can expect a long and trying hunt for a new one. Average time of unemployment has climbed from 16.6 weeks in December 2007, to 24.1 weeks in June 2009, to 40.5 weeks in September, the worst in 60 years.

The people in the Occupy Wall Street protest put a human face on these numbers. The movement is based on fairness and outrage. As the inequality among our citizens grow, and our college graduates struggle to survive, we need to listen and respond to their desperate attempt to communicate the current realities in our society.

Median income is a statistic, but the decline of our society is all too real.