Report: Household income in NC no better than before recession
While it's been a strong economic year in the Triangle, a new report shows that's not the case in many parts of North Carolina.
Posted — UpdatedThose whose incomes are rising are mostly the top earners and mostly in the state's urban areas, such as the Triangle. But those gains have been offset by declining incomes for other workers, espcecially in rural areas, according to the report.
"Everyday people are struggling with lower wages and lower incomes than they had before the recession," said Alexandra Sirota, director of the Budget & Tax Center. "At the same time, costs are rising fast. Those cost increases in housing and child care are really putting a squeeze on families."
"Farming [also] has taken a big hit in the last couple of years," Walden said. "I think we’ve been more exposed to the trade wars, especially the trade war with China. So yes, North Carolina’s economy is still restructuring."
The Budget & Tax Center report shows about one in eight North Carolina families is living below the federal poverty line, which is about $25,000 for a family of four. The percentage of working families living just above the poverty line is also higher than it was before the recession.
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