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Household income is not wages per person. Getting married doubles average household income for those people. Getting a job and hiring a nanny, maid, and gardene
by hgsgm 4y ago
Household income is not wages per person. Getting married doubles average household income for those people. Getting a job and hiring a nanny, maid, and gardener creates fictional household income, because homemaking is assigned $0 value by the Fed.
- SideQuark 4y ago>Household income is not wages per person. True. But it increased because personal income increased: https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N Furthermore, two income households have decreased as less people get married, so the personal income is even greater than that graph. >Getting a job and hiring a nanny, maid, and gardener creates fictional household income, because homemaking is assigned $0 value by the Fed. That's just nonsense. First, very few households have any of those, and certainly not the median house. And, as the graph above shows, median personal income has vastly increased over the same time. If you want to make stuff up, try looking up the data before making false claims.