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Household income is still in the doldrums [ClearOnMoney]
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Household income is still in the doldrums

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Commentary

Household income is still in the doldrums

24 Nov 2011 by Jim Fickett.

Yesterday the Bureau of Economic Analysis released household income and spending data through October.

Adjusted for inflation, and leaving out transfers from the government, household income was essentially unchanged from February to October. This is certainly not good, but it is also not surprising for a jobless recovery.

Spending continues its (unsustainable) uptrend.

Even for the US on its own, it would take years more for a full recovery. The European crisis, worsening by the day, is likely to provide additional headwinds.