The Census Bureau brings some good news today: median household income rose 1.8 percent last year:
It only took 18 years, but household income is now firmly higher than it was at the top of the dotcom boom. On the other hand, low-income earners didn’t do so well:
The income of the bottom fifth increased only half a percent, and the income of the second fifth increased slightly more than 1 percent. Neither one has yet made up the ground they’ve lost since the peak of the dotcom boom. Maybe next year.
The Census Bureau released a bunch of other stuff today too, including poverty and income inequality numbers. I’ll try to get to those later.