A New Record!

[RandyForRubio]

The median household income is now $61,372, which is a new record! 5th consecutive year where it has increased.

In addition:

Compared to 1975, the average household income per US household member has increased by 74% from $19,500 to $34,000, while the median household income per person has increased by 45% from $16,600 to $24,160. Without adjusting for household size, average household income increased by only 50% since 1975 (vs. 74% adjusted for average household size) and median income increased only 25% (vs. 45%), demonstrating the importance of adjusting for changes in household size when comparing median household incomes over time.




https://reason.com/blog/2018/10/01/...er-and-less-equ/amp?__twitter_impression=true

A little positivity for today

 

[MVP]

Just wait until Trump starts bragging about it.

 

[RandyForRubio]

Just wait until Trump starts bragging about it.

If we’re being honest, every president would.

 

[LogGrad98]

If we’re being honest, every president would.

This.

However Trump will brag about in the most douchiest way, far far more douchy than any other 2 presidents put together.

 

[fishonjazz]

Yet despite the higher salaries its harder than ever to get by on a single income

 

[bigb]

Yet despite the higher salaries its basically impossible to get by on a single income

Much more correct

 

[LogGrad98]

Yet despite the higher salaries its harder than ever to get by on a single income

Yep. Like the housing crisis in California right now. The market is strong, so strong it is driving up not just the price to purchase a home (up about 30% on average in the last 2 years), but rental rates are skyrocketing. One house we considered renting 2 years ago when we moved here, at that time renting for $1950 per month, is on the market again, this time listed at $2300 per month. And landlords have been raising rents as leases come due to take advantage of it. It is ugly right now.

 

[fishonjazz]

Much more correct

Im doing it currently. Yet im working more than just about anyome to the point that my overtime is kinda like a second income i guess. Yet im still always broke and always living paycheck to paycheck. And im actually quite frugal and good with money. It sucks. Im scared of retirement and will probably work right up until the day i die. I would like to have a second child so my daughter could have a sibling but i cant afford another child.

 

[RandyForRubio]

Negative bastards.

 

[Miggs]

According to some cost of living calculator I found online, it appears the cost of living has risen 2,500% since 1975. I’m not even sure that can be accurate.

Another site which calculates data has inflation having risen almost 500%. That seems right to me.

Based on that, have salaries increased accordingly?

 

[JAZZGASM]

The median household income is now $61,372, which is a new record! 5th consecutive year where it has increased.

In addition:

Compared to 1975, the average household income per US household member has increased by 74% from $19,500 to $34,000, while the median household income per person has increased by 45% from $16,600 to $24,160. Without adjusting for household size, average household income increased by only 50% since 1975 (vs. 74% adjusted for average household size) and median income increased only 25% (vs. 45%), demonstrating the importance of adjusting for changes in household size when comparing median household incomes over time.




https://reason.com/blog/2018/10/01/...er-and-less-equ/amp?__twitter_impression=true

A little positivity for today

I think, when adjusted for inflation, wages have gone down. This article also shows that there are more very rich but the middle class has decreased, and the poor have remained static (again, not adjusted for inflation so they have less buying power). To me this is not good.

According to some cost of living calculator I found online, it appears the cost of living has risen 2,500% since 1975. I’m not even sure that can be accurate.

Another site which calculates data has inflation having risen almost 500%. That seems right to me.

Based on that, have salaries increased accordingly?

No. As I recall from an article I read about a year ago (but don't have a link) that as of l2017, when you adjust for inflation, we were back to 1975 levels or something like that. Even the OP's article shows how the middle class is shrinking and the lower class has remained stagnant (not taking into account inflation as far as I can tell, meaning the poor have gotten poorer).

 

[Miggs]

I think, when adjusted for inflation, wages have gone down. This article also shows that there are more very rich but the middle class has decreased, and the poor have remained static (again, not adjusted for inflation so they have less buying power). To me this is not good.


No. As I recall from an article I read about a year ago (but don't have a link) that as of l2017, when you adjust for inflation, we were back to 1975 levels or something like that. Even the OP's article shows how the middle class is shrinking and the lower class has remained stagnant (not taking into account inflation as far as I can tell, meaning the poor have gotten poorer).

Yeah, I figured as much but I didn’t want to be too presumptuous.