As the struggling economy continues to erode jobs and wealth, family incomes in Atlanta are taking a hit across the board, AJC staffer Katie Leslie reports.
In metro Atlanta, new Census data show the top 20 percent of wealthiest households lost nearly $2,000 in 2009 income, dropping to $106,712 from $108,409 in 2007.
At the same time, metro Atlanta’s poorest 20 percent of household incomes dropped from $26,466 in 2007 to $24,562 in 2009, Leslie writes.
Statewide, the top 20 percent of wealthiest households earned $94,323 in 2009, down from $95,286 in 2007, according to the ACS data. Georgia’s poorest household incomes dropped from $25,581 in 2007 to $19,272 in 2009.
Dorsey Farr, an economist with the Buckhead firm French Wolf & Farr, points to the rise in unemployment from 2007 to 2009 as a leading cause for Georgia’s household income declines.
“We did have a fairly large unemployment problem when [the 2009 data] was captured. If your wage goes from any level to zero, the people who are unemployed are going to have a larger percentage decline in income,” he said.
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