Posts filed under “Wages & Income”

The Census Bureau released its annual report on Income, Poverty, and Health Insurance Coverage: 2010 (full PDF)  this morning.  Barry has posted the slide presentation that staff went through during the conference call over in the Think Tank (please have a look).  The (very ugly) bullet points from the release can be found here, and the centerpiece graph is below.

As time allows, I intend to do some work on the numbers in the updated report, but here are a few things that jumped out at me (straight from the summary):

  1. Real median household income in the United States in 2010 was $49,445, a 2.3 percent decline from the 2009 median.
  2. Since 2007, the year before the most recent recession, real median household income has declined 6.4 percent and is 7.1 percent below the median household income peak that occurred prior to the 2001 recession in 1999.
  3. In spring 2011, 5.9 million young adults age 25-34 (14.2 percent) resided in their parents’ household, compared with 4.7 million (11.8 percent) before the recession, an increase of 2.4 percentage points.
  4. It is difficult to precisely assess the impact of doubling up on overall poverty rates. Young adults age 25-34, living with their parents, had an official poverty rate of 8.4 percent, but if their poverty status were determined using their own income, 45.3 percent had an income below the poverty threshold for a single person under age 65.
  5. Based on the Gini Index, the change in income inequality between 2009 and 2010 was not statistically significant, while the changes in shares of aggregate household income by quintiles showed a slight shift to more inequality. The Gini index was 0.469 in 2010. (The Gini index is a measure of household income inequality; zero represents perfect income equality and 1 perfect inequality.)

More to come.

Category: Current Affairs, Data Analysis, Economy, Employment, Research, Wages & Income

Census: Income, Poverty, and Health Insurance Coverage: 2010

2010 Report Plot Points

Category: Think Tank, Wages & Income

WP: Special Report on “Breakaway Wealth”

There is a huge Washington Post special report on Breakaway Wealth in the US. More than most other industrialized nations, the US has seen the top 0.1% compensated in vastly disproportionate numbers versus the rest of the populace. There are at least several reasons to be concerned about this, beyond basic fairness: 1) Nations that…Read More

Category: Bailouts, Current Affairs, Politics, Really, really bad calls, Wages & Income

Breakdown: August 2011 NFP Data

Some asterisks on this job number, but overall, quite weak, and a continuation of the downtrend for the 4th consecutive month. This was the weakest NFP report in almost a year. A Verizon strike is the key asterisk to this report — that shed 45k employed from the overall picture. Lets breakdown the August data….Read More

Category: Data Analysis, Employment, Wages & Income

The Heart of the Matter

Some of the factors that have landed us in the mess we’re in have been building for decades, and there’s ample evidence on which to draw to demonstrate that fact.  In looking at a few of these issues, I’ll draw on some charts I’ve presented both here and elsewhere before.  A couple are replicated from this outstanding study in…Read More

Category: Consumer Spending, Current Affairs, Data Analysis, Economy, Wages & Income

Discuss: BEA revised 2009 & ’10 Personal Income Sharply Lower

American’s spending turned negative in June (-0.2%) for the first time since September 2009. Without government largesse (personal transfer receipts) personal income would have declined. Personal income increased $18.7 billion, or 0.1 percent…Personal current transfer receipts increased 9.5 billion, in contrast to a decrease of $1.4 billion. Government largesse is 51% of income growth. The…Read More

Category: Data Analysis, Wages & Income

What Can You Expect to Earn in the Valley?

Click to Enlarge: Source: What Can You Expect to Earn in the Valley? Focus

Category: Technology, Wages & Income

In Deficit Dilemma, Pain Looms for Middle Class

The national deficit is too great for entitlement programs like Social Security and Medicare to escape unharmed. That means an impact is looming on many Middle Class Americans who may not be expecting it. WSJ’s Neil Hickey reports.

July 12, 2011

Category: Employment, Real Estate, Video, Wages & Income

Income Distribution Across the World’s 7Billion

This interactive Nat Geo chart shows the distribution of income around the globe: > Click into interactive map for more information Source: National Geographic, The World of Seven Billion

Category: Digital Media, Wages & Income

2011 U.S. Metro Wealth Index

Curious about changes in the highest income demographics? Cap Gemini has all of the details. Most of America may be treading water, but the High Net Worth Individuals are kickin’ it old school! > click for ginormous graphics

Category: Digital Media, Wages & Income