UM: U.S. Income

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USA Today reports that in 2008, U.S. median household income fell 3.6% to $50,303 – its sharpest drop since 1947, when the government began keeping records. The article quotes Sheldon Danziger of UM’s Population Studies Center, who projects that income will drop at least 5% this year, due to rising unemployment: “2009 is going to be dreadful.” [Source]