As the census numbers continue to come in, the news gets worse and worse for Michigan. Households in Michigan saw their incomes drop faster than any other state by a huge margin over the last decade. The Detroit News reports:
For most families in Michigan, the long-running recession has meant a simple, unrelenting truth: living with less. And census data released on Tuesday shows how much less — the state’s median household income fell by more than $12,000 over the last decade — the equivalent of trimming $1,000 from a family’s monthly budget.
The drop was stunning in both its size and its singularity: No other state came close to losing the estimated 21.3 percent of its median income between 2000 and 2009, and no state endured the 6.5 percent drop seen from 2008 to 2009.
One economist quoted in the article said that while the rest of the country was in a recession, Michigan was in a depression.