Series: Percent expecting higher income and percent expecting lower income
Horizon: 1978:Q1 to 2013:Q2
Description: Starting in 1978:Q1, a little over 50 percent of individuals expected their income to increase, while about 10 percent expected their income to decrease. Over time these, two series stayed relatively close their initial values. During recessions, the percent expecting higher income tended to drop and the percent expecting lower income rose, but prior to the most recent recession that started in early 2008, both series stayed about average. In 2008, the percent expecting lower income climbed, reaching its all-time high of almost 30 percent in 2009:Q2. Those expecting higher income also began to fall in the recession and reached its low point at just under 40 percent in 2011:Q1. The two series have recovered somewhat, and in 2013:Q2, a little over 45 percent expect an increase in income and just under 20 percent expect a decrease. The series cross at about the fourth quarter of 2008.