From BBC News.
I’m thinking about all those glowing jobs reports that a couple of months later are downgraded… and if this rise in income is true, wouldn’t the GDP be higher? (I actually don’t know…:o)
I just read an article explaining that while incomes did go up in 2015, they have so far declined in 2016.
CNN was reporting this story the other day. I figured they are trying to put a positive spin on employment and jobs ahead of the election to make it seem Obama’s policies were good and, therefore, we should all vote for Hillary - in spite of her health issues!
Problem with these types of incomes rising studies is that they don’t eliminate the 5% . If they did that, they would have the real outlook. Almost no one is getting raises. It’s like it was before minimum wage was instituted.
Isn’t this ‘leap’ following a six year streak of steady declines?
Yes, perspective matters.
What about the 93,000,000 people that are out of the work force? I wouldn’t call that progress.
Why are they out of the workforce?
It’s possible. After all, the Fed has printed so much money, maybe some of it found its way into actual households.
But that’s not the rest of the story.
Actually, America’s incomes are stalling
So far in 2016, however, incomes have declined, reversing the trend. Census data analyzed by Sentier Research, a private firm, shows that median household income, adjusted for inflation, fell from $57,702 in January of this year to $57,190 in July, the latest month for which numbers are available. That’s a drop of more than $500, or a little less than 1%. “Everybody’s talking about this biggest increase ever, but it’s tailing off,” says Gordon Green of Sentier
If interest income is a component of America’s income, I could easily see the total family income as decreasing. Interest rates are close to zero.