Sorry about your paycheck

From the WSJ:

U.S. Incomes Fall for Third Straight Year

Surging inflation gobbled up household income gains last year, making 2022 the third straight year in which Americans saw their living standards eroded by rising prices and pandemic disruptions.

Americans’ inflation-adjusted median household income fell to $74,580 in 2022, declining 2.3% from the 2021 estimate of $76,330, the Census Bureau said Tuesday. The amount has dropped 4.7% since its peak in 2019.

The figures add to the picture of the economic challenges facing households since Covid-19 hit in early 2020. Inflation hit a four decade high last summer as the pandemic upended supply chains and the Ukraine war drove up energy prices. 

This year could be different. Earnings and inflation trends have improvedas a strong labor market and cooling price increases boosted household purchasing power, said Bill Adams, chief economist at Comerica Bank.

“Shifting into the present and into the future, the prospects are better for wages to make up for some of the ground lost during the last couple of years,” Adams said. 

Wage growth for the typical worker outstripped inflation starting in December 2022, with inflation-adjusted wages rising about 3% in July, according to data from the Atlanta Fed Wage Tracker and the Labor Department. 
The Census Bureau, in its annual report card on the financial well-being of U.S. households, said median household incomes in 2022 dropped by 3% to 5% in the West, Northeast and Midwest, while the South was unchanged.

A broader unofficial measure of poverty that accounts for taxes and noncash government aid rose sharply last year to 12.4% for the overall population and children. The increase was linked to the expiration of several pandemic-related tax credits, especially one for children, according to Liana Fox, an assistant division chief at the bureau.

Both poverty measures stand slightly above lows reached in 2019 ahead of the pandemic.

This entry was posted in Crisis, Demographics, Economics, Employment, National Real Estate. Bookmark the permalink.

57 Responses to Sorry about your paycheck

  1. edentss dunnigan says:


  2. Fast Eddie says:

    Surging inflation gobbled up household income gains last year, making 2022 the third straight year in which Americans saw their living standards eroded by rising prices and pandemic disruptions.

    Incorrect. Pete and Joe fixed everything. This is misinformation. The Inflation Abduction Act was instrumental.

  3. Fast Eddie says:

    Any thoughts on the UAW demands? Too much? Are the big three going to pass the cost to the consumer despite any outcome? Is Honda, Toyota and Kia smiling?

  4. Very Stable Genius says:

    “In the first half of 2023 the big three automakers made a combined $21bn in profits – up 80% from the same time period last year. Over the past decade, these same companies made some $250bn in profits in North America alone.

    Yet last year, the big three spent $9bn – not to improve the lives of their workers, not to make their factories safer, but on stock buybacks and dividends to make their wealthy executives and stockholders even richer.

    Further, while many of their workers are struggling to survive financially, last year the CEO of General Motors raked in about $29m in total compensation, the CEO of Ford approximately $21m and the CEO of Stellantis over $25m.

    Incredibly, over the last four years, CEO pay at the big three has increased by more than 40%.“

  5. Juice Box says:

    Nobody on the road
    Nobody on the beach
    I feel it in the air
    The summer’s out of reach
    Empty lake, empty streets
    The sun goes down alone
    I’m driving by your house
    Don’t know you’re not home

    Mortgage Survey in another week of decline.

    “Mortgage applications decreased for the seventh time in eight weeks, reaching the lowest level since 1996,”

  6. Juice Box says:

    UAW has lowered their demand for a mid-30% raise over the 4 year contract rather than the 40%.

  7. NJCoast says:

    Nobody on the road
    Nobody on the beach
    Locals’ Summer!

  8. BRT says:

    I wouldn’t mind a trip down to Monmouth County this weekend. Mercer county is the pits.

  9. Chicago says:

    Ten 432
    CPI in line, but core came in slightly hot

  10. Fast Eddie says:

    Consumer prices edged higher in August as a surge in oil prices contributed to an uptick in headline inflation, according to the latest data from the Bureau of Labor Statistics released Wednesday morning.

    The Consumer Price Index (CPI) rose 0.6% over last month and 3.7% over the prior year in August, an acceleration from July’s 0.2% monthly increase and 3.2% annual gain in prices.

    Joe’s got this! No worries!

  11. Juice Box says:

    Ocean water temp is 75F but the surf this weekend will be rough with the Hurricane Lee passing by. Between soccer matches and other stuff I may even close my pool. I don’t think I want to burn $20 bills to heat it and keep it open a few weeks longer as it will cool down at night down to 59F so brrrrr for the water…

  12. Juice Box says:

    More lines crossed, and more propaganda. Ukrainians hit the Russian shipyard in Sevastopol. Images and videos on social media show big explosions and fires possibly one ship and one submarine taken out.

    Our media says it was British and French storm shadow missiles fired from Ukrainian Jets, however The UK and France etc said they aren’t supposed to use those to attack Russia directly or there will be no more supplies.

    Ukrainians possibly used converted mothballed S-200 missiles, the same that were used last month to hit the Kerch Bridge. These are long-range, high-altitude surface-to-air missiles the Ukranians converted to hit ground targets. The distance from Odessa to Sevastopol is 188 miles. It’s possible either the Storm Shadow missiles or the converted S-200 were used.

    Expect Russia to now hit Kyiv hard..

  13. grim says:

    UAW has lowered their demand for a mid-30% raise over the 4 year contract rather than the 40%.

    I heard someone on Bloomberg radio mention the rationale for the 40% pay hike this morning, couldn’t help but laugh a bit at how awesome that flex was.

    I’d say I lean anti-union, but even I can respect that argument.

  14. BRT says:

    I remember my sister was visiting one summer at my parents house and the pool was too cold for her. This is a girl who will up the thermostat to 85 in her apartment. She jacked up the entire pool overnight like she was heating up her room and the pool was ruined for like a week. My dad was burning money left and right at the time so he didn’t even notice the bill.

  15. BRT says:

    Consequently, not much has changed. She’s getting married at the age of 46 and she wants to do the wedding in England. I had to explain to her that it would cost me more to lug my family over there than I spent on my own wedding.

  16. Juice Box says:

    BRT – is that the first marriage, and England? Is the groom English?

    Anecdotal my English cousin who lives here had her first baby at 48 yrs old. Her boyfriend the “dad” split a few years later and is basically absentee who pays next to nothing for support and rarely spends time with his son. Well, he just and went and got married to someone else, and my cousin is now livid. These people are in their 50s now and act like they are 25…It’s a crazy world we live in.

  17. Fast Eddie says:

    Shabby, dirty, dated, tasteless and lazy with route 208 as your backyard. Gimme 780K and it’s yours:–1002670099

  18. ExEx says:

    Keep rooting for failure Gary. Join the rest of the America-hating Russian sympathizing turds circling the drain.

  19. Fast Eddie says:

    Highest and best by EOD today. Asking 450K. How much would you bid based on the pictures?–2006608448

  20. Libturd says:

    From yesterday.

    “Pseudoephedrine is the meth precursor, Phenylephrine was what the Pharma industry came up with when pseudoephedrine was forced behind the counter, which significantly reduced sales.”

    My doctor told me this about ten years ago which is why he said the only thing you need is 24 hour straight Sudafed (which is the meth base) and to stay away from everything with a letter attached to the name. Then about five years ago, they banned the use of phenylephrine in kids medicine as they claimed it was ineffective (but we knew that already). Finally, they announced it ineffective for adults too, but I bet they keep selling it for a while.

    I use two drugs. Sudafed and Tylenol. That’s really it. And my crazy concoction of vitamins which is lowering my cholesterol. I may join the Oh-oh-oh-Ozempic parade as I suck at losing weight.

  21. Fast Eddie says:

    Speaking of Russia… when will that Russian Collusion report get released? Did Schiff present that bombshell information yet? Or am I confusing that with season 2 of the January 6th erect1on hearings?

  22. Libturd says:


    I would pay 50K for the carpeting and curtains alone. But they’d have to throw those barstools in.

    That house will go for 575K. A developer will flip it for 850K after redoing the kitchen and baths, the windows and the floors. Will still pocket 150 to 200K.

  23. ExEx says:

    9:28 Ozempic might help with that pesky diabetes from a life well lived.

  24. BRT says:

    Pentagon-funded study warns dementia among U.S. officials poses national security threat, as Senators Mitch McConnell and Dianne Feinstein — who enjoy privileged access to top secret info — suffer health episodes.

    We needed a Pentagon funded study to figure that one out?

  25. ExEx says:

    9:34 abetting and appeasing America’s enemies was an easy death sentence for the perpetrators in classic America.

  26. Juice Box says:

    Up and Up..

    US core inflation ran at a faster-than-expected monthly pace in August.

    – The core CPI advanced 0.3% from July

  27. Libturd says:

    I don’t have diabetes. I think I exercise enough to keep it at bay. But I’m way to fat since I like eating. That Jardiance commercial is enough to make sure I keep the diabetes at bay.

  28. BRT says:

    Yep, he’s 50, lived here for 25 years. Parents are in England and too ill to travel. But he waited an extra 8 years to pop the question. I’m not spending $8k to travel over there for his mistake. I don’t do destination weddings. I’ll travel if you live there.

  29. 1987 Condo says:


    agree on the flex. In fact, if there was a way to tie employee wages to the total comp of the C-suite, maybe we could get these crazy executive pay packages in line.

    Circa 1980, the Pru Ceo made $350,000 annual salary (mutual company at time). The starting college salary was $17,000, or 20x. Today the Pru CEO comp is almost $20 million. It is unlikely starting salaries are $1 million! LOL

  30. Fast Eddie says:

    Ask was 599K, down to 549K. Last sold in 2019 for 405K. It has some warmth it appears by the pics, on a quiet street, a few blocks from the train. Hmm… what’s the story here?–2006545939

  31. Juice Box says:

    Lol He ran out of lies and had to borrow one.

    Senator Chuck Schumer yesterday folks.

    “I think the impeachment inquiry is absurd. The American people want us to do something that will make their lives better, not go off on these chases and, uh, witch hunts.”

  32. Fast Eddie says:


    LMFAO! Do as we say, not as we do. That’s beautiful. I wonder if he cringed when we said it.

  33. BRT says:

    Apparently the firm working on Route 206 bypass and expansion is gone. What are we up to now, 40/50 years to build 5 miles of road? Our state government is completely broken. I saw Arizona expanding an entire highway doubling the size of it. It will probably be done within a year or two.

  34. Fast Eddie says:

    Sold for 475K in 2015; asking 789K. It’s a nice-looking house, well-kept. I wonder what it looked like when they bought in 2015? Damn, 475K just a few years ago. This generation is fucked unless the bank of Mom and Dad come through. These prices aren’t going to stagnate or backtrack at all:–2006577430

  35. leftwing says:

    “These people are in their 50s now and act like they are 25…”

    This is the way….

    “Incredibly, over the last four years, CEO pay at the big three has increased by more than 40%.”

    Not going to waste prodigious amounts of time doing obtuse liberals’ work for them, assuming they even care for analysis over their propaganda, but for kicks and giggles I pulled the most recent Ford proxy.

    Farley’s (CEO) comp actually double from 2020 to 2022.

    Nearly 100% due to stock awards.

    “I’d say I lean anti-union, but even I can respect that argument.”

    IIRC labor makes up anywhere from 5-8% of total costs of a vehicle. Want to push all the ‘raise’ demands into RSUs, I’d be 100% on board as well.

  36. leftwing says:

    “…abetting and appeasing America’s enemies was an easy death sentence for the perpetrators in classic America.”

    So not supporting Ukraine attacking a Russian base in a city the Russians founded in the late 18th century is abetting the enemy? LOL. Interesting.

  37. Phoenix says:

    Less government is the only thing that will help. But that isn’t happening.

  38. ExEx says:

    How about government by the people for the people.
    Or just one that uses tax dollars wisely. Way too much to ask.

  39. Phoenix says:

    The government is bought and paid for by corporations. It’s long gone.

    In other news:

    ‘All ALPHV ransomware group did to compromise MGM Resorts was hop on LinkedIn, find an employee, then call the Help Desk,’ the group said, adding that the company ‘was defeated by a 10-minute conversation.’

    Such attacks, known as ‘social engineering,’ involve convincing a human target to hand over credentials, such as by posing as an employee who needs a password reset.

    ALPHV does not appear to have mentioned the attack on its dark leak pages, and vx-underground said the information came from direct communications with the hackers.

  40. Libturd says:


    That’s how most attacks get around the security software. The problem with the hackers is that they are making a lot of money with ransom payments. As long as companies are willing to pay them, this will continue in perpetuity. We’ve had a number of attacks in our company, but we’ve always been able to stop them. Our company is hyper-focused on the issue and the hours and hours of training we are forced to participate in covers the social engineering backdoor that MGM fell for. Though, it’s getting to the point where all of our web security necessities are really getting in the way of our ability to perform work.

    I had to open a ticket with IT this week to both download and then to install a printer driver for example.

  41. Libturd says:

    Forgot to mention. About once a month every employee will get a phishing email. If you do not report it as phishing in Outlook, you must perform additional training. It works wonders to keep people on their toes. Then again, our company is extremely diligent in hiring and outside of sales, there is very little stupid among our ranks.

  42. 1987 Condo says:

    Humor? on the Healthcare front:

  43. 3b says:

    Big delays and service interruptions in NYC subways today. Apparently a lot of subway cars were vandalized overnight. Oh, the energy and pulse of the city!

  44. Bystander says:

    Who was it, 3b? The Turnbull ACs, the Baseball Furies..or maybe that punk from the Rogues?

  45. ExEx says:

    Warrrrrriors! Come out & play

  46. Fast Eddie says:

    Feeling a little “Dead” in the afternoon?

  47. Phoenix says:


    Yup. Funny, yet not humor at all.

    Your politicians are paid for with lobbyists and corporations. That’s why they allow you to vote, they know it makes no difference if you vote D or R.

    All corrupt. Less government is the only answer.

  48. Fabius Maximus says:

    Yes Left, Just some patriots out for a walk.

    Mike Sington @MikeSington
    Revealed: Stunning text message Mitt Romney sent to Mitch McConnell on January 2, 2021 warning him of the Jan 6 attack on the U.S. Capitol, that Trump is the instigator, and he may not help. (From McKay Coppin’s new book “Romney: A Reckoning”.)

    Mitt Romney: “In case you have not heard this, I just got a call from Angus King, who said that he had spoken with a senior official at the Pentagon who reports that they are seeing very disturbing social media traffic regarding the protests planned on the 6th. There are calls to burn down your home, Mitch; to smuggle guns into DC, and to storm the Capitol. I hope that sufficient security plans are in place, but I am concerned that the instigator—the President—is the one who commands the reinforcements the DC and Capitol police might require.”

  49. Phoenix says:

    I heard you couldn’t fry an egg on the hood of your car in Texas today. It’s about time that heat wave moved on. Looks like Arizona got the monsoon instead.

    Panera- kid wanted Mac and Cheese. Sick F’s wanted 11 dollars for 10 oz maybe.
    I wouldn’t step foot in that place again if I had to take a dump, I’d do it on the entrance at the front door.

  50. Hold my beer says:

    If Biden doesn’t run for re-election, here’s a fine example of the guy who probably would get the nomination.

  51. Fast Eddie says:

    A double-wide in Glen Rock. Ask is 689K. Put 138K down and it’s yours for just under $5,000 per month. No garage, just four walls in this pod. Think of the joy you’ll have telling friends and family you have a Glen Rock address. Taxes are $14,100 for this manse. I would suggest installing a chair rail in that area that appears to be a dining room. I’m sure your guests will be banging into the wall when the get up to relieve themselves during the Thanksgiving dinner.–2006520820

  52. Trick says:

    Just checked the listing in our area and at least half have price cuts, anywhere from 10 to 100k. Big change from a few weeks ago but still crazy high.

  53. The Great Pumpkin says:


    tic tic tic

    I feel like they are going to pull the rug on the stock market….only a matter of time. Could even be this week.

  54. Fast Eddie says:

    Just checked the listing in our area and at least half have price cuts, anywhere from 10 to 100k.

    The kids will bicker endlessly where one wants a certain dollar figure, the other one insists on just selling the house, the 3rd one will agree on anything and the 4th one in Colorado can’t be bothered with any of them and just wants the check sent after the closing. They should have just agreed to sell it no matter the dollar price. Meanwhile, no one is visiting Mom in the facility.

  55. Fast Eddie says:


    Come on man, this train is going to keep on rolling. The NYC gravity is much too strong for this baby to run out of steam. Look at the Glen Rock house I posted above. You want to be part of the game? Pay up or start looking around Little Marsh, PA.

  56. The Great Pumpkin says:


    I really don’t think there will be a major correction in north jersey. New Jersey has really been improving over the past 5 years-10 years. It will only stagnate on quality homes. POS home sales might make it seem like the price is dropping as they are the only ones being sold for a discount and don’t reflect the reality of quality home pricing. You know this game already….you been alive long enough to know this local market.

    National market…those “it” spots are taking a bat to the head already.

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