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In reply to the discussion: Median incomes are not growing as fast as they should be. This is true. And it is a serious problem. [View all]ProSense
(116,464 posts)4. What "wage declines"?
"The OP starts off being about how to address declining real-dollar wages, but then veers off into a thing about how people complain about Obama too much. "
Maybe the problem is at least four OPs today that decided to spin a trend showing an increase in wages as a decline...despite the facts.
Real Median Household Income Rises 1.2% in February
By Doug Short
March 31, 2014 (Monthly Update)
Summary: The Sentier Research monthly median household income data series is now available for February. Nominal median household incomes were up $668 month-over-month and up $1,787 year-over-year. Adjusted for inflation, they were up 1.2% MoM and 2.4% YoY.
The latest monthly gain was the second largest of the 170 data points in this series since the turn of the century. However, in real dollar terms, the median annual income is 6.8% lower (about $3,892) than its interim high in January 2008.
<...>
The first chart below is an overlay of the nominal values and real monthly values chained in January 2014 dollars. The red line illustrates the history of nominal median household, and the blue line shows the real (inflation-adjusted value). I've added callouts to show specific nominal and real monthly values for January 2000 start date and the peak and post-peak troughs.
In the latest press release, Sentier Research spokesman Gordon Green summarizes the recent data.
- more -
http://advisorperspectives.com/dshort/updates/Median-Household-Income-Update.php
By Doug Short
March 31, 2014 (Monthly Update)
Summary: The Sentier Research monthly median household income data series is now available for February. Nominal median household incomes were up $668 month-over-month and up $1,787 year-over-year. Adjusted for inflation, they were up 1.2% MoM and 2.4% YoY.
The latest monthly gain was the second largest of the 170 data points in this series since the turn of the century. However, in real dollar terms, the median annual income is 6.8% lower (about $3,892) than its interim high in January 2008.
<...>
The first chart below is an overlay of the nominal values and real monthly values chained in January 2014 dollars. The red line illustrates the history of nominal median household, and the blue line shows the real (inflation-adjusted value). I've added callouts to show specific nominal and real monthly values for January 2000 start date and the peak and post-peak troughs.
In the latest press release, Sentier Research spokesman Gordon Green summarizes the recent data.
This monthly increase in median household income between January and February 2014 extends an uneven but upward trend. Our time series charts clearly illustrate that although the economic recovery officially began in June 2009, the recovery in household income did not begin to emerge until after August 2011. While many of the month-to-month changes in median income since the low-point in August 2011 have not been statistically significant, an overall upward trend is clearly evident.
- more -
http://advisorperspectives.com/dshort/updates/Median-Household-Income-Update.php
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Median incomes are not growing as fast as they should be. This is true. And it is a serious problem. [View all]
DanTex
Apr 2014
OP
In the face of these wage declines, why is the primary concern what people think of Obama?
cthulu2016
Apr 2014
#1
Why do you say that when ProSense provided a chart with both real and nominal figures?
stevenleser
Apr 2014
#21
Prosense is referring to a trend in the last month/year, which is small in comparison to what is
DireStrike
Apr 2014
#53
Nonsense. The trend has been upward for the last three years. The chart shows that. n/t
ProSense
Apr 2014
#56
Yes, if you squint really hard you can see a very minor increase in real wages
DireStrike
Apr 2014
#58
"...I expected dismissal, and your comment flies in the face of the reality."
NCTraveler
Apr 2014
#13
Prosense, you have not come close to making the case that this is fundamental and structural change.
NCTraveler
Apr 2014
#22
"it seems more like vague generalities rather than specific policy objections"
NCTraveler
Apr 2014
#38
Raising the minimum wage won't have any effect on the median income, will it?
Donald Ian Rankin
Apr 2014
#15
Not really. Increasing the minimum wage improves the safety net, but doesn't help most of us.
reformist2
Apr 2014
#19
Good point. But I don't think 50% of workers are making $10 or less. Maybe 25-30% of workers.
reformist2
Apr 2014
#25
Yes, the pressure from the artificial floor should decrease somewhat as you go up, but
cthulu2016
Apr 2014
#31
As cthulu pointed out, it would likely have indirect impact on wages beyond just
DanTex
Apr 2014
#57
Proud to be the first to rec this. Obama has fought HARD for the minimum wage
Cali_Democrat
Apr 2014
#16