• Race, age, and geographic location all  factor into how badly households have been hit by post-recession money  woes
  • Only householders aged 65-74 saw an  increase in average income

By  Ap Reporter and Daily Mail Reporter

PUBLISHED: 16:04 EST, 22  August 2013 |  UPDATED: 16:25 EST, 22 August 2013

The average household is earning less than  when the Great Recession ended four years ago and some Americans are affected  even more than others.

U.S. median household income, once adjusted  for inflation, has fallen 4.4 percent since the official end of the recession,  according to Census Bureau statistics.

Specific groups such as blacks, the young,  and the upper-middle-aged have experienced even larger than average drops in  income.

Money woes: The Great Recession may be over, but a new study says average American household income has dropped since the end of the recession

 

Money woes: The Great Recession may be over, but a new  study says average American household income has dropped since the end of the  recession

 

Younger people and those aged between 55 and  64 were hit worse than other age groups. In the older group, income dropped from  $62,842 to $58,432 on average.

In only one group did median income go up.  Americans aged 65 to 74 saw their average income go from $40,885 to  $42,984.

In addition to age and marital status, race  was a factor in household income drops.

Worst off were African American households  which, according to the study, saw a larger income drop since the end of  recession than other groups.

Interestingly, increase in college enrollment  during the recovery caused income to drop across all education  levels.

Somewhat less surprisingly, households headed  by unemployed persons were the hardest hit of all with a 21 percent decrease in  average income.

Crunched: A graph from the authors of the study, Sentier Research, shows unemployment in black and houshold income in red 

Crunched: A graph from the authors of the study, Sentier  Research, shows unemployment in black and houshold income in red

 

POCKET CHANGE: HOW DIFFERENT AMERICAN HOUSEHOLDS HAVE BECOME  EVEN WORSE OFF SINCE THE RECESSION

The Great Recession hit most American  households where it hurts: in  their pockets. Some, however, were affected more  than others. Though  median income has risen since plummeting after 2008 and  hitting a low in summer 2011, average  American household income is still 6%  below pre-recession levels. And  for most American households, income is down  from levels seen at the end of the Great Recession.

AGE

Factored out: Younger households, minority households, and households in the South and West have seen sharper declines in income since the end of the recession four years ago 

Factored out: Younger households, minority households,  and households in the South and West have seen sharper declines in income since  the end of the recession four years ago

 

  • Americans household headed by those aged  55-64: Income down 7 percent 
  • Householders under 25 years old: Income down  9.6 percent
  • Householders 65-74 were saw the only  increase: Income up 5.1 percent

RACE

  • Median income for white households down 3.6  percent
  • Black household income dropped 10.9  percent
  • Hispanic housholders saw a 4.5 percent  drop

REGION

  • Southern households saw an average income  decline of 6.2 percent
  • Northeastern household income dropped 3.9  percent
  • Households living in the West saw a 5.4  percent decline
  • Midwest average household income was up a  statistically insignificant 0.8 percent

In fact, according to a report from  Sentier Research, every  group is worse off to some degree except for those aged 65 to 74.

The median, or midpoint, income in June 2013  was $52,098. That’s down from $54,478 in June 2009, when the recession  ended.

And it’s below the $55,480 that the median  household took in when the recession began in December 2007.

The study found that both family households  and single Americans were affected.

The average income for single people fell  from $33,815 to $31,166. Men  living alone were hit worse than women living  alone with a drop of 9.1  and 6.5 percent drops respectively.

Married couples were affected less so.  Average income for them fell by 2.6 percent.

Read more: http://www.dailymail.co.uk/news/article-2400395/The-average-American-household-earning-LESS-income-did-end-Great-Recession.html#ixzz2clHXCOOj Follow us: @MailOnline on Twitter | DailyMail on Facebook