North Carolina’s Incomeless Recovery
- From 2007 to 2013, the inflation-adjusted income of the median North Carolina household dropped by more than 8%. Median income fell by 5.5% from 2007 to 2009 and by another 3.2% during the recovery that started in 2009 through 2013.
- From 2009 to 2013, real average household income fell or remained unchanged for every household income group in North Carolina except for the top 5%.
- The distribution of household income in North Carolina has grown more unequal since 2007, and the distribution of income in North Carolina in 2013 was more unequal than in the nation as a whole.
- The annual earnings of the median worker (ages 16+) fell by 7.4% between 2007 and 2013.
- Median annual earnings have fallen regardless of a worker’s level of education (ages 25+). Even typical workers with bachelor’s degrees or postgraduate degrees saw their earnings drop from 2007 to 2013.
- Real median household income in North Carolina was effectively no different in 2013 than in 1984.
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