Sunday, October 26, 2008

Cafe Hayek: Ordinary Americans Growing Wealthier Over the Long-Run

So will this destroy the myth of stagnating income:
"after adjusting the Census Bureau data for three key factors — inflation-adjusted median household income for most household types increased by roughly 44 percent to 62 percent from 1976 to 2006. The only household types with substantially lower growth were “working-age male householder without spouse present” and “male householder with children but without spouse,” but these types constitute just 10 percent of all households. Household income inequality increased notably over this period; nonetheless, middle American households had substantial income gains."
With regards to the data, I noted some time ago that single male income was stagnant to lower. I wish the data was available to dig into this statistic and determine why single men were commanding less wages. The biggest question is the roll of immigration in the data.


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