WASHINGTON (Reuters) - U.S. employers added a smaller-than-expected 108,000 new jobs in December
And for the year we have added almost 2,000,000 new jobs, a reasonable performance. By now we should be seeing some positive impact on the average American. The recession ended four years ago, but as Dani said last night, it sure feels like we are still in a recession. The Suburban Guerrilla points out why.
As a result, median household income has now fallen for five years in a row. It was 4 percent, or $2,000, lower in 2004 than it was in 1999.
That last figure means that Joe and Jane Average American the household smack in the middle of the booming go-go American economy have gotten a pay cut for five years in a row. Small wonder theyÂre sporting long faces.
And that hasn't occurred in a bubble; health care costs for that same family (with kids) rose over 40 percent yeah, 40 percent between 2000 and 2003.
Recession Job Growth