Posted on 12/02/2016 5:05:39 PM PST by Lorianne
Despite all the frothy excitement about the stock market’s new highs, and the drooling today over the new highs reached by Housing Bubble 2, exceeding the prior crazy highs of Housing Bubble 1 even according to the Case-Shiller Index, and despite eight years of super-low interest rates, and a million other things that are hyped constantly, median household incomes, the crux of the real economy, is still a dreary affair.
Sentier Research released its median household income measure for October today. Adjusted for inflation, it edged up 0.6% from a year ago to $57,929. But it’s down 1.3% from January 2008, and it’s down 1.5% from its peak in 2002.
It has fallen 0.5% since January. That’s not a propitious trend. The report put it this way: “Median annual household income in 2016 has not been able to maintain the momentum that it achieved during 2015.”
(Excerpt) Read more at wolfstreet.com ...
nobody noticed\mentioned that the average hour wage went down.(3 cents and hour)
http://www.bls.gov/news.release/empsit.t19.htm
Adjusted for real inflation, even using the ginned methods promulgated by the Clintoon administration, it actually went down significantly. Again.
My state is one where people are lobbying for $15 minimum wage. Boot the illegals and limit legal immigration and the market would probably give that.
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