INCOMES POST THE GREAT RECESSION

Even though there are now more jobs than before the Great Recession, a recent report* by the U.S. Conference of Mayors and IHS Global Insight found that new jobs pay 23 percent less than the positions lost in the recession. The wage gap is "significantly larger" than that of the country's last recession and recovery, the report found, and implies $93 billion in lower wage income.  Job losses have been prmarily in manufacturing (avg. $63,000) and construction (avg. $58,000) and replaced by lower paying jobs in hospitality, healthcare, and administrative support (avg $21,000-$47,000).  The median household income in 2012 was $51,017 which, when adjusted for inflation, was the lowest since 1995.

The metropolitan areas with the highest percentage of the workforce with incomes above $100,000/yr (above 40%) are: Bridgeport-Stamford-Norwalk, CT (41.8% with a median income of $81,100/yr in 2013); San Jose-Sunnyvale-Santa Clara, CA (45.4% with a median income of $93,500/yr in 2013), and Washington, D.C.-Arlington-Alexandria (44.1% with a median income of $88,100/yr in 2013).  SanFrancsico-Oakland-Fremont, CA came close at 38.4% (with a median income of $75,900/yr in 2013).  Metrolplitan areas with the fewest percentage above $100,000 (below 10%) are:  Gadsen, AL (7.4% with a median income of $34,900/yr in 2013); Muncie, IN (9.1% with a median income of $36,000/yr in 2013);  Yuma, AZ (9.3% with a median income of $39,700/yr in 2013); Brownsville-Harlington, TX (9.4% with a median income of $30,800/yr in 2013 Ranked 363); Ocala, FL (9.4% with a median income of $37,700/yr in 2013); Fort Smith, AR,OK (9.6% with a median income of $36,300/yr in 2013); Morristown, TN (9.6% with a median income of $39,200/yr in 2013);  Cumberland, MD,WV (9.7% with a median income of $36,100/yr in 2013); Joplin, MO (9.7% with a median income of $37,700/yr in 2013); Wheeling, WV,OH (9.9% with a median income of $42,400/yr in 2013).

Though fewer adults are getting married, remarriages are up.
Whether Americans remarry or not matters because marriage is correlated with financial well-being. Some 7% of remarried adults live in poverty, compared with 19% of divorced adults. The median annual personal income of remarried adults is about $30,000, $5,000 higher than for divorced adults.**

* See August 2014: Income and Wage Gaps Across the U.S.:  http://www.usmayors.org/metroeconomies/ I encourage you to look at the entire article.
** http://blogs.wsj.com/economics/2014/11/14/more-americans-are-saying-i-do-again-and-again-and-again/?mod=djemRTE_h