American income inferior to economy progress

A Census Board Report shows that U.S households are sceptic about the recovery of the economy since no change has been noticed in the American income level.   Median household income increased by only $51, 939, a meagre figure according to U.S households. This plays down a lot on consumer confidence given that the feeling of recession is still predominant.   The good news comes in terms of poverty alleviation which showed a drop of 14.5%; a record fall since 2006. But it does not cut off the poverty rate which is still high at 2%.   The White House acknowledged the fact the discrepancies in income level is a serious issue but that more efforts are being put in terms of tax breaks.   The Census Bureau will be giving details about the American Community Survey tomorrow and will provide insightful information about the overall sentiment prevailing. Source: Reuters
Priscilla Camryn By: Priscilla Camryn
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