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Saturday, January 02, 2010

More Lost Decade

by Calculated Risk on 1/02/2010 08:43:00 AM

Another "Lost Decade" story, this time in the WaPo by Neil Irwin: Aughts were a lost decade for U.S. economy, workers

It was, according to a wide range of data, a lost decade for American workers. ...

There has been zero net job creation since December 1999. ... Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999 ... And the net worth of American households ... has also declined when adjusted for inflation ...
Lost Decade Click on graph for WaPo page in new window.

This graphic from the WaPo shows job growth by decade, change in GDP, and percent change in household wealth for every decade since 1940.

Hopefully the '10s will be much better.