MO household income fell sharply last year
September 12, 2012
While Jay Nixon attempts to make the case that Missouri’s economy has turned the corner, it is becoming increasingly clear that his spin is simply not true. The latest data released by the Census Bureau and reported by the Post-Dispatch shows more discouraging news for the state: in 2011, the median household income fell to its lowest level in nearly two decades.
Additionally, more Missourians are living in poverty. Missouri’s poverty rate actually increased from 15% to 15.4%, bucking the national trend which saw a slight decline in the percentage of Americans with incomes below the poverty line.
These stats add to the growing mountain of evidence showing that, despite Nixon’s claims, Missouri’s economy has not rebounded. The facts:
* More than 45,000 fewer Missourians are working today than when Jay Nixon took office. (source: BLS)
* Since June 2009, the number of Missourians working has declined .7% percent, worse than any state except Nevada. (Bloomberg/Business Week, September 5, 2012)
* More than 95,000 Missourians have dropped out of the labor force—meaning they have simply given up looking for work. (source: BLS)
* Missouri’s labor force participation rate—64.1% in July—is at its lowest level since 1985. (source: BLS)
* Missouri’s GDP grew at a paltry .04% in 2011, worse than all but 7 other states. (Post-Dispatch, June 6, 2012)
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3:31 PM May 21, 2013