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Tuesday, September 25, 2012

Ohio's Median Income at 27 Year Low

The next time Obama or Biden are in Ohio touting the success of this administration's failed economic policy it would be nice if someone would ask them why the hell median income has declined so much. Ohio households are more pinched for cash than they have been in 27 years. When adjusted for inflation, the 2010 annual median household income in Ohio of $46,093 was down by $543 from the previous year, and down 15.3 percent from the peak of $54,395 in 2000, according to the census’s Current Population Survey, which was released yesterday. The Census Bureau began collecting these data in 1984 and last year's inflation adjusted income was the lowest it has ever been.
Ohio’s level of poverty — 15.3 percent — was worse than the nation’s, which was at 15.1 percent. Ohio’s level jumped 2 percentage points from 2009; it has never been this high since those records were first kept in 1980. This means 1.74 million Ohio residents live in poverty.
The worst year before 2010 was 1994, when 14.1 percent of Ohioans were in poverty. Anyone for 4 more years?


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