Chart of the Day: We’re Now Well Into Our Second Decade of Stagnant Incomes


The New York Times reports that household income is still in the doldrums:

Median household income has begun to recover over the last two years, but households still have not come close to regaining the purchasing power they had before the financial crisis began, a new study says. The study, issued on Wednesday by two former Census Bureau officials, suggests why many people remain glum even though the economy is growing and unemployment has declined.

In fact, it’s worse than that. The study in question comes from Sentier Research, which calculates a Household Income Index going back to January 2000. As you can see below, incomes were pretty stagnant during the entire aughts, which means that median household income today isn’t just below the level of 2007, it’s below the level of 2000. If you add in health benefits, the picture is brighter, but only modestly: Total household compensation today is still below its level in 2000 even when you count healthcare premiums. We are now well into our second decade of flat incomes for the non-rich.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

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