The current economic recovery has disappointed – both in terms of its effects on families and compared to past experience. Even though employment has finally regained previous losses, four years after the end of the Great Recession, families have lost a great deal in terms of standard of living. Four years of sluggish job and wage growth has resulted in working families missing out on thousands of dollars in earnings.
Indeed, compared to every other post-war recovery, family disposable income has languished. If per-capita disposable income had kept pace with every other recovery since World War II, Americans would see an extra $2,700 in their pocket.
As Americans continue to struggle to make ends meet, $2,700 would make a big difference. What would you have done with $2,700?