A report by two former Census officials explains why the economy feels worse than ever for most people.

Real median annual household income fell significantly more during the economic recovery from June 2009 to June 2011 than during the recession from December 2007 to June 2009.

During the recession, income fell by 3.2 percent from $55,309 to $53,518. During the recovery, income fell by an additional 6.7 percent to $49,909. Altogether that's a brutal 9.8 decline over four years.

The economy is recovering; it's just leaving behind a lot of Americans.

Get the full report from Sentier Research.