Yesterday the Census Bureau released its latest income data, confirming what millions of Americans already know: The recession may be over, but the recovery has yet to trickle down. Specifically, the Census reported that median household incomes didn't budge between 2011 and 2012.
Digging deeper into the new data reveals more evidence of the widening income gap between the rich and the rest.
The only bright side of stalled incomes is that they are no longer experiencing the steep decline that started in 2007 before the recession hit. But that's hardly cause for celebration: At $51,017, the real median household income in 2012 is even less than it was at the end of the '80s, and it's down 9 percent from its high in 1999.
Jon L. Gelman of Wayne NJ is the author NJ Workers’ Compensation Law (West-Thompson) and co-author of the national treatise, Modern Workers’ Compensation Law (West-Thompson). For over 4 decades the Law Offices of Jon L Gelman 1.973.696.7900 email@example.com have been representing injured workers and their families who have suffered occupational accidents and illnesses.