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Average annual expenditures Income before taxes
July 2012- July 2013- Percent July 2012- July 2013- Percent
Income quintile June 2013 June 2014 change June 2013 June 2014 change
---------------------------- ---------- -------- ---------- ---------- -------
Lowest 20th $22,336 $22,981 2.9 $10,174 $9,818 -3.5
percentile
Second 20th 33,075 32,778 -0.9 27,094 26,369 -2.7
percentile
Third 20th 42,728 43,739 2.4 47,017 45,724 -2.8
percentile
Fourth 20th 59,155 59,250 0.2 75,990 74,410 -2.1
percentile
Highest 20th 99,651 100,979 1.3 164,647 166,048 0.9
percentile
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Other than the highest 20th percentile, everyone's income has gone down. In some of the cases, combined with increased cost of living.
What are your thoughts on this? What is causing this?
More info below:
http://www.bls.gov/news.release/cesmy.nr0.htm