So wages were slowly but steadily rising until covid. Honestly, the shame there is the fact that that workers didn’t play hard ball when employers were desperate.
Usnoumed on
Now do it in percentages and compare it to inflation. 😬
ChicagoDash on
Nice to see a post covid recovery, but it looks like the slope was much better between 2012-2019 after declining from 2007-2011.
– People subconsciously compare themselves to others on social media (including reddit).
– There are constant doom and gloom headlines about how bad things are, because outrage gets the most clicks and views. So, people think things are worse than they really are.
[deleted] on
[deleted]
MetricT on
The high points (around 2006, 2019, and 2023) appear to correspond to peaks in labor market tightness, when there were more jobs than people.
Which makes sense. When the supply of workers is low relative to demand, prices (wages) go up, and vice-versa.
As it unfortunately looks like the ratio is swinging away from labor’s favor to capital, I suspect real median household income is likely to follow.
wegsgo on
15% increase in 25 years is awful. It should be closer to 50%
raptorman556 on
Interestingly, [real median personal income](https://fred.stlouisfed.org/series/MEPAINUSA672N) rose even faster, growing 4.2% compared to just 1.2% for median household income. Initially I thought that household size decreased during the same time period, but it [turns out not really](https://fred.stlouisfed.org/graph/?g=cWvT) (at least not on average, it’s at least theoretically possible it still happened at the median). Would be worth some digging to figure out the discrepancy.
amatulic on
A more meaningful plot would be a ratio of that to the consumer price index, to see where buying power reached a peak.
EDIT: Ehh… I missed that line at the end, saying it’s already adjusted for inflation.
Now I’m curious how 2025 looks.
punarob on
And to think Biden lost because the media had everyone convinced they were so bad off after inflation he had nothing to do with. When it fact it was literaly the best financial position Americans had been in. I remember posting on subs because there was data basically showing this a year ago for overall non-executive pay, and of course got massively downvoted even on Reddit.
DanoPinyon on
This is one metric, but I’ll wager doing this in quintiles is much more meaningful/illustrative.
stlredbird on
So household income went up 15% since i bought my house in 2013, meanwhile that same house doubled in value/price in the same amount of time.
Leave A Reply
Du musst angemeldet sein, um einen Kommentar abzugeben.
13 Kommentare
From the new data release. Found here https://fred.stlouisfed.org/series/MEHOINUSA672N. Adjusted using C-CPI-U. Made with Datawrapper.
So wages were slowly but steadily rising until covid. Honestly, the shame there is the fact that that workers didn’t play hard ball when employers were desperate.
Now do it in percentages and compare it to inflation. 😬
Nice to see a post covid recovery, but it looks like the slope was much better between 2012-2019 after declining from 2007-2011.
Looks like [C-CPI-U](https://www.bls.gov/cpi/additional-resources/chained-cpi-questions-and-answers.htm) accounts for inflation pretty well including housing. My thoughts on why many people „feel“ like this is inaccurate:
– [More people than ever are trying to do it alone/single.](https://usafacts.org/articles/how-has-the-structure-of-american-households-changed-over-time/). That’s obviously going to be much harder financially.
– People subconsciously compare themselves to others on social media (including reddit).
– There are constant doom and gloom headlines about how bad things are, because outrage gets the most clicks and views. So, people think things are worse than they really are.
[deleted]
The high points (around 2006, 2019, and 2023) appear to correspond to peaks in labor market tightness, when there were more jobs than people.
https://i.imgur.com/JdigT6c.png
Which makes sense. When the supply of workers is low relative to demand, prices (wages) go up, and vice-versa.
As it unfortunately looks like the ratio is swinging away from labor’s favor to capital, I suspect real median household income is likely to follow.
15% increase in 25 years is awful. It should be closer to 50%
Interestingly, [real median personal income](https://fred.stlouisfed.org/series/MEPAINUSA672N) rose even faster, growing 4.2% compared to just 1.2% for median household income. Initially I thought that household size decreased during the same time period, but it [turns out not really](https://fred.stlouisfed.org/graph/?g=cWvT) (at least not on average, it’s at least theoretically possible it still happened at the median). Would be worth some digging to figure out the discrepancy.
A more meaningful plot would be a ratio of that to the consumer price index, to see where buying power reached a peak.
EDIT: Ehh… I missed that line at the end, saying it’s already adjusted for inflation.
Now I’m curious how 2025 looks.
And to think Biden lost because the media had everyone convinced they were so bad off after inflation he had nothing to do with. When it fact it was literaly the best financial position Americans had been in. I remember posting on subs because there was data basically showing this a year ago for overall non-executive pay, and of course got massively downvoted even on Reddit.
This is one metric, but I’ll wager doing this in quintiles is much more meaningful/illustrative.
So household income went up 15% since i bought my house in 2013, meanwhile that same house doubled in value/price in the same amount of time.