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Yup. Real median personal income in the US is up. [0] Although there have been few gains in the past decade. It's a pretty decent measure of the average America
by IkmoIkmo 8y ago
Yup. Real median personal income in the US is up. [0] Although there have been few gains in the past decade. It's a pretty decent measure of the average American.
It's also a bit better than wages as a measure of average citizen's purchasing power. After all, wages are linked to having a job. The 20th century saw substantial emancipation and the end of high degrees of exclusion of minorities, particularly women. As they entered the workforce, real wages may have decreased slightly on average, i.e. men were earning slightly less per job, and women were earning significantly more, which is why you can see average wages decline while average personal income increases.
[0] https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N