Sunday, December 14, 2014

Median Income Peaked in 1999 or Earlier for Most Counties in USA

The Washington Post has an interested infographic showing when each county in the US saw per capita median income peak.
Median household income peaked at least 15 years ago in 81 percent of U.S. counties. That means that when incomes are adjusted for inflation, most middle class households are actually earning less money than they did years ago. Even though the economy is finally revving up, most Americans still don’t see the benefits in their paychecks.
The reasons are many but common sense economic theory tells us that ultimately this is the result of a supply and demand problem for the median worker, low interest rates, and a lack of savings/capital accumulated by the median household.