Summary:
Given that I consider jobs and wages for average Americans my #1 focus, it’s only fair that I write about this week’s release of the real median household income for 2016, don’t you think? A few years ago I wrote that real median household income was the most misused statistic in the entire econoblogosphere. That’s because: it is NOT a measure of real wages. It includes all income — things like pensions, dividends, and social security. it includes ALL households, not just those headed by workers. A household of full time students is included. Your 85 year old grandparents are included. A household where one or more persons is unemployed is included. A household where one spouse stays home to raise the children is included. it is subject to
Topics:
Dan Crawford considers the following as important: US/Global Economics
This could be interesting, too:
Given that I consider jobs and wages for average Americans my #1 focus, it’s only fair that I write about this week’s release of the real median household income for 2016, don’t you think? A few years ago I wrote that real median household income was the most misused statistic in the entire econoblogosphere. That’s because: it is NOT a measure of real wages. It includes all income — things like pensions, dividends, and social security. it includes ALL households, not just those headed by workers. A household of full time students is included. Your 85 year old grandparents are included. A household where one or more persons is unemployed is included. A household where one spouse stays home to raise the children is included. it is subject to
Topics:
Dan Crawford considers the following as important: US/Global Economics
This could be interesting, too:
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