3 ms·
The data you link to shows 3 out of 5 quintiles of incomes have been flat. Meanwhile, the cost of healthcare and child care have increased faster than inflation
by cheriot 5y ago
The data you link to shows 3 out of 5 quintiles of incomes have been flat. Meanwhile, the cost of healthcare and child care have increased faster than inflation[1]. It's nice that TVs are cheaper for better quality, but if the essentials are more expensive the people with lower (and middle!) incomes have tighter budgets than ever.
[1] https://fred.stlouisfed.org/graph/?g=Kxcc https://fred.stlouisfed.org/graph/?g=Kxcc
- sokoloff 5y agoThat article contains a "real income growth since 1967" table (about halfway down, on the right). All quintiles show growth, with the 4th quintile (20-40th percentile) showing the lowest growth at +31.1% and the 5th quintile (lowest 20%) showing a similar +34.2% across that period of multiple decades. That's indeed "essentially flat, but still slight growth".