Recovery incomplete
Wednesday, August 30th, 2006
By Chris Fitzsimon
Slow economic gains in North Carolina haven’t made up for downturn John Murawski, Sue Stock and David Raynor, Staff Writer So you’ve gotten a few pay raises in the past few years. Congratulations. But can you buy as much as you did five years ago?
The median household income, a key measure of financial health for most people, crept up in North Carolina in 2005, mirroring a national trend that saw the median income rise 1.1 percent.
But North Carolina still hasn’t recovered from the economic flameout of five years ago. Between 2000 and 2005, median household income in North Carolina fell from $43,537 to $41,584, when adjusted for inflation, according to U.S. Census data released Tuesday.
It’s as if we’ve been getting pay cuts all those years.
Carol Oldick doesn’t need the government statistics to tell her what she sees with every paycheck.
The 64-year-old Rocky Mount resident works full time selling furniture at the Carolina Clearinghouse furniture store in Raleigh to supplement her Social Security check.
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