If we are indeed in the midst of a recession -- and we won't know we're in one until well after it's begun -- stocks likely still have a long way to go down.
WASHINGTON (AP) -- Quitting your job - all but unheard of during and after the Great Recession - is becoming more common again. That could mean pay raises are coming for more Americans.
Recovery from the recession started nearly four years ago, and the housing sector is still feeling the downturn's impact. Instead of "movin' on up," many Americans have been forced to downsize in terms of where they live.
A just-released report finds the median income of American households has dropped 4.1 percent since the end of the recession, almost exactly as much as it decreased during the recession itself.
The consequences could be severe, according to the Congressional Budget Office, if Congress can't find a way to keep tax cuts from expiring and to keep automatic spending cuts from taking effect in January.
The share of the nation's income earned by the middle class has fallen to its lowest level in recent decades. It's been surpassed by affluent earners as median wages stagnate and wealth concentrates at the top in a relatively weak economy.
Variables such as income level and education are among the popular choices by economists and researchers when compiling data on the employment status of a state or country, but some simpler factors can't be overlooked.