Incomes rose, or did they?

From the NY Times:

Census Reports Slight Increase in ’05 Incomes

The nation’s median household income rose slightly faster than inflation last year for the first time in six years, the Census Bureau reported yesterday.

The rise, however, had little to do with bigger paychecks — in fact, both men and women earned less in 2005 than 2004. Rather, census officials said, more family members were taking jobs to make ends meet, and some people made more money from investments and other sources beyond wages.

While the economy has been strong by most statistical measures for the past several years, its benefits have not translated into improvements in the standard of living for many people. In New York, the proportion of city residents living below the poverty level has not changed in the last five years.

The 5.9 percent drop in median household income since 1999 was not shared equally around the country. In Michigan, median household income fell 11.9 percent between 1999 and 2005. In North Carolina, it was 11.2 percent, in Utah 10.4 percent and in Indiana 9.5 percent.

But in some states, the impact was not nearly so great: a drop of 2.5 percent in New York, 2.4 percent in South Dakota and 1.9 percent in New Hampshire. In the District of Columbia and six states — Hawaii, Maine, Maryland, Montana, North Dakota and Virginia — the change was so small that it fell within the survey’s margin of error.

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8 Responses to Incomes rose, or did they?

  1. Anonymous says:

    Wow. not a single comment on this article. This article, assuming the numbers aren’t way off, shows just how bad a state this country is in. What I got out of reading that is more people are uninsured, more people are poor, and the gap between rich and poor is as wide as ever. That’s a good article to print and refer to in 30 years.

  2. Anonymous says:

    Unfortunately, an even more unpleasant graphic depiction:

    credit to Mish’s blog

  3. Pingback: Anonymous

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