Raw Data: Household Income Since 1975

Just in case you’re curious, here is the growth of household income over the past 40 years:

Please note a few things:

  • I have used the PCE inflation index in order to keep all the PCE folks happy.
  • The income data comes from the Census Bureau. It is market income. It does not include food stamps or Section 8 vouchers or other social welfare payments.
  • The growth rate since 2000 has been 0.44 percent per year. This is not “stagnant.” However, it is “sluggish.”
  • Thanks to high growth since 2013 (about 4.2 percent per year) households have finally recovered the income they lost in the Great Recession. However, that is flattening out and will most likely return to the ~0.5 percent growth rate of the post-2000 era.

Anyone who wants to call income growth of 0.44 percent anything better than sluggish is welcome to do so. But if you do, your understanding of the English language is different than mine.

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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