Good News: Households' net worth rises first time in 2 years. Your job can't be far off now!

From MarketWatch | Sept 17, 2009 | By
Rex Nutting

WASHINGTON (MarketWatch) - American households were $2 trillion richer
on June 30 than they were three months earlier, the first time in two
years that household net worth has increased, the Federal Reserve
reported Thursday in its quarterly flow of funds report. Household
wealth rose in the second quarter at a 17% annual rate, or $2 trillion,
to $53.1 trillion after falling at a 13% rate in the first quarter. The
rally on Wall Street was the main reason for the increase in household
wealth, but rising home prices contributed as well. Consumers continued
to pay down debts or have their debts written off at a record pace. In
the second quarter, household debt fell at a 1.7% annual rate to $13.7
trillion, matching the record percentage decline in the fourth quarter.