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Wednesday, April 17, 2024

Income for the Masses Not Keeping Up… For 40 Years

Income for the Masses Not Keeping Up… For 40 Years

Courtesy of Jake at Econompic Data

A few weeks ago I detailed the divergence in household incomes showing the top 5% of earrners gained mightily over the past 40 years relative to lower level incomes. But in comparing all those income brackets to the growth of the broader economy (on a per capita basis), even those top 5% earners’ didn’t keep up with the pace.

household income

So over the past 40 years, the only individuals that have seen their incomes increase at / or greater than the level of GDP were those earning more than those in the top 5% (think top 1%).

Source: Census

 

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