mike | Shared With: Everyone - Mar 09 2007 | income, census, wages, cpi, economics
Household Incomes from 1967 through 2005. Data show that the median household income in 2005 was $46,301. Compare that to the (inflation adjusted) $41,000 in 1967.
For the lowest 5th of households, 2005 wages were $10,655. Compare that to $9,300 in 1967.
The data supports the conclusion that "real wages" are going up (on a household basis). And, contrary to popular belief, the poor are NOT getting poorer. What is really happening is that across all segments of the population, income is going UP since 1967. The rich are getting richer - but the poor are also getting richer.
However, the top 5% of households are making 26 times what the lowest 5th are making. So the rich are "pulling away" from the poor - they used to make 17 times the poorest 5th.
Quoted: Detailed historical income and poverty tables from the March Current Population Survey 1947-2005. Census Bureau data on: household income, share of aggregate income, income quintiles, per capita income, family income, and median income, and poverty by age, sex, race, Hispanic origin, state, and other characteristics.
ShareViewed: 7 Times
- ljc - Mar 11 2007
- mike - Mar 11 2007
You must be Mike's friend before you can comment on this Fave.again, remember that a lot more household incomes now (compared with 1967) include two wage-earners.
There is also an increasing trend to single head-of-household. We need more data!
Send Mike a friend request or a personal message instead.