The Arizona Republic by D. Wagner Dec 26, 2012 p. A1
"Holiday retail sales this year were the weakest since 2008, when the nation was in a deep recession. In 2012, the shopping season was disrupted by bad weather and consumers' rising uncertainty about the economy"
Majia here: Household income continues to stagnate and is a lower level now, on average, than during the height of the recession. That is why holiday sales were weak.
Oct 10, 2011
"Between June 2009, when the recession officially ended, and June 2011, inflation-adjusted median household income fell 6.7 percent, to $49,909, according to a study by two former Census Bureau officials. During the ...
Dec 06, 2012
Household income for people in their peak earning years — between ages 45 and 54 — plunged $7,700 to $64,349 from 2000 through 2008, after adjusting for inflation. People in their 20s and 30s suffered similar drops.