3 ms·
> they’re considerably higher than one, two or any number of decades ago I do not think that is correct? This actually shows stagnation for at least 2 decades
by prof-dr-ir 2y ago
> they’re considerably higher than one, two or any number of decades ago
I do not think that is correct? This actually shows stagnation for at least 2 decades in real median household income:
https://en.wikipedia.org/wiki/Household_income_in_the_United_States#/media/File:US_GDP_per_capita_vs_median_household_income.png https://en.wikipedia.org/wiki/Household_income_in_the_United...
Source: https://en.wikipedia.org/wiki/Household_income_in_the_United_States https://en.wikipedia.org/wiki/Household_income_in_the_United...
- AlchemistCamp 2y agoThe chart you shared shows over a 30% increase of U.S. real median household income over three decades. First, note that this is median, not mean, so it’s not skewed by outliers. Secondly, t’s real income, which means it’s already inflation adjusted. Finally, it’s a measure of households not people. This understates the per-capita gains, since the average household size has shrunk since the 80s. Arguably, increasing prosperity is part of why people now choose to live with fewer people such as extended relatives and housemates.
- robotcapital 2y agoThe comment you're replying to is implying real median personal income (https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N), not household. Household sizes change over time.