Instapundit » Blog Archive » HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Our Crisis Of Bad Jobs. “Median hous…: "HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Our Crisis Of Bad Jobs. “Median household income—the midpoint income of all American households—was reported by the Census Bureau (whose data is a year or so behind) to be down in 2011 compared to 2010, despite an economic recovery that began in mid-2009. More disturbing, that figure is now down to around $50,000, which is 7 percent or so below what it was in 2000 and its lowest level since 1996, adjusted for inflation. Incomes are falling still more sharply for black households. . . . The reason that the economic recovery is coinciding with middle class decline is increasingly clear. America is creating jobs, but they are bad jobs: retailing, food preparation, and table waiting, for example—in other words, jobs that don’t pay much.”
Posted by Glenn Reynolds at 10:50 am"
As in Robert Mugabe of Zimbabwe. Soon to be followed by hyperinflation spread by helicopters if the Bernank has his way...
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