Now, new statistics from the U.S. Bureau of Economic Analysis demonstrate how job losses are affecting Americans’ personal incomes.
Income dropped by 0.5 percent in the first quarter of the year, with 37 states seeing declines, according to the bureau. This compares to the 0.4 percent decrease seen in the fourth quarter of 2008.
Job losses and low interest rates set by the Federal Reserve were two of the largest factors that brought incomes down, the report states.
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