The Daily Data Dive: Another Way of Looking at Household Income Shows Virtually No Gain

The US Government publishes lots and lots of economic data, much of it conflicting, and much that's highly suspicious. We know that the Household Income data released this week was suspicious, but I could not quite figure out what the problem was. I had surmised that it was due to an increase in household size, or a family member getting a first job or taking a second job, hardly a sign of workers and households improving their lot in life. The government's methodology in collecting, repurposing, and reporting the data is so obscure however, that we can't definitively identify the source of the absurd 5.2% reported annual increase in real household income.

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