You Call This an Economic Recovery?

Posted by on Aug 25, 2012 at 7:45 pm

Almost every demographic group has seen incomes drop during the alleged Obama recovery, Sentier found. Even those who report being continuously employed watched their real incomes drop nearly 5% over the past three years.

A separate report last week from the Pew Research Center found that over the past decade, the middle class has “shrunk in size, fallen backward in income and wealth, and shed some … of its characteristic faith in the future.”

Meanwhile, there are 800,000 more long-term unemployed than when the “recovery” started, and the ranks of those who aren’t in the labor force at all have swelled by nearly 8 million.

The unemployment rate remains stuck above 8%, and shows no sign of coming down any time soon. And the dreaded misery index — which combines inflation and unemployment — is 20% higher than it was three years ago.

Even unions have suffered, with membership down more than half a million since 2009.

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