2 ms·
1974 median individual income was $28k 2024 median individual income was $45k Over 50 years that’s a decent amount of growth. Obviously it could be better but
by zeroonetwothree 11mo ago
1974 median individual income was $28k
2024 median individual income was $45k
Over 50 years that’s a decent amount of growth. Obviously it could be better but it’s not nothing.
Source: https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N
- amypetrik8 11mo agoSure but pretty sure with your 1974 28k you could buy a nice house, whereas with your 2024 (equivalent) 45k you can buy an OK car, not a house
- raincole 11mo agoIn theory this graph is already inflation-adjusted. In practice, I think this shows why economic statistics are borderline lies.
- marcosdumay 11mo agoThe problem is inflation. We have no way to reliably measure it over any long time-frame. Make the time long enough, and it even stops making sense as a concept.