3 ms·
You don't need to try to calculate wages from household income, which are a complicated relationship for a variety of reasons. Both I and the previous poster p
by aetherson 4y ago
You don't need to try to calculate wages from household income, which are a complicated relationship for a variety of reasons. Both I and the previous poster provided actual wage data, which shows (despite the previous poster's gloss) that median wage increased from 1980 to present.
(EDIT: For whatever it's worth, in general the reason why people who talk about wage stagnation focus on wages instead of household income is that median household income has steadily increased over the last 50 years in a way that median wages haven't. I don't have time to dig into why your two datapoints aren't showing that, but here's a real median household income graph (it only goes back to 1984, didn't find one immediately that goes to 1980). https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N
In terms of median wages, people gloss the graph I previously linked as "stagnation," but it's not -- it's a drop from 1973 to ~1997, then a rise from 1997 to current (with some fluctuation mostly around the Great Recession of 2008). It's true that 1973 is approximately equal to 2019, but when people hear that wages "stagnated," they generally take away that it was mostly flat in that time, which it wasn't. So they then imagine that from start of any time in that time period to 2019 is mostly flat, which again, it isn't.)