The 55-64 crowd taking the biggest income hit

Household income within this age bracket is nearly 10 percent less than it was three years ago, according to a report by Sentier Research (via Economix). Younger Americans are also struggling, though the incomes of older Americans have actually increased 6.5 percent. We can only guess at the explanations: Maybe folks in their late 50s and early 60s are losing their jobs in disproportionate numbers and cannot find comparable work. Maybe more people over 65 must keep working in order to bolster their savings. Various surveys have found many Americans in their 50s and 60s to have inadequate savings for retirement.