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Household income slump similar to what happened in 2002 [ClearOnMoney]
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Household income slump similar to what happened in 2002

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Commentary

Household income slump similar to what happened in 2002

2 Nov 2011 by Jim Fickett.

Last week the BEA reported household income and spending through September. Both organic household income, before transfers, and overall disposable income are in a slump. But note that this is quite similar to what happened in the post-recession soft spot in 2002:

Spending remains in an uptrend.

This cannot continue unless income begins to increase again. We'll see.