Quick look at the 2019 census data:
Real median household income is up *61%* since 1967.
Incomes also up 14% since 2007, making this business cycle even better than the 1990s boom
Here it is by age group over the life cycle in 1979, 2000, and 2019
And by age since 1979. Even incomes for young households up 8% since 2007
Here's nominal year over year growth in median HH income vs the unemployment rate (inverted) obviously showing a strong relationship between the two
Smaller gains for men working full time but again, their best business cycle yet (up 6% in real terms since 2007 peak)

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Donald Schneider

Donald Schneider Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @DonFSchneider

9 Sep
THREAD/
Good news: using a new(ish) measure of the labor share that Rognlie deems "the best measure," pay and productivity are growing together.

Bad news: there's a much bigger puzzle than supposed decline of the labor share
In an overlooked comment here ( mattrognlie.com/kn_comment_rog… ) Rognlie reviews common biases in measuring labor share and comes up with a preferred measure that addresses them: "the net labor share of domestic corporate factor income"
I take his definition and update it (using the nonfinancial corporate sector - more on that later). It has hovered between 74% and 84% since 1947 and now sits above historical average at 80%. In Rognlie's words "there is no postwar trend in the net corporate labor share"
Read 14 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!