We got more than just inflation figures today! The Census Bureau has released the 2021 estimates of annual earnings. Here it is for individuals:
Men's earnings were up $1,200 last year. Women's earnings were up $150. However, no one has made up for last year's dip. Men's earnings are 2.2% below their 2019 level; women's earnings are 0.7% below.
Since the year 2000, men's earnings have increased 2.7% (adjusted for inflation). Women's earnings have increased 22%.
You can find the complete Census income figures here. They include individual, family, and household estimates, and are reported by race, sex, age, region, education level, and marital status.
Kevin - I know you are amazing at correction numbers for inflation (and thank you for that!). I'm surprised that you aren't always as good at labeling whether or not numbers are median or means. When the data has a long tail (e.g., lawyer salaries), that can make a difference when you are looking at year-to-year changes.
Agreed, and I would also like to know who the population is. All Americans? Working age? In labor force? Employed?
Income inequality in the U.S. increased last year for the first time in more than a decade, but childhood poverty was cut almost in half due to expansion of the federal government's child tax credit and stimulus payments made in response to the COVID-19 pandemic, according to new survey results released Tuesday by the U.S. Census Bureau.
The income inequality index increased 1.2% from 2020 to 2021, the first time the measurement known as the Gini Index has increased since 2011, according to a report on Current Population Survey results. (AP)
Stock bubble. Gone that will be in 2022.
Bloomberg's take on the same data is less charitable to the Biden administration
https://www.bloomberg.com/news/articles/2022-09-13/us-poverty-rate-rises-for-second-year-incomes-little-changed?leadSource=uverify%20wall
That's not a take. That is selling a story. Income increased. End of story.