Hacker News new | ask | show | jobs
by zeth___ 2901 days ago
Looking at statistics instead of stories:

https://fred.stlouisfed.org/series/IAPCPI

In Iowa 2008 was the biggest drop in nominal personal income since 1955. The period 2009-2017 had the slowest nominal personal income growth since the end of the great depression in 1931. 2017 was one of 3 years to record negative income growth in the last 50 years (2008, 1993).

This all speaks of a labor market working far beneath capacity, one that hasn't yet made up the loss of income from the last recession. One no where close to full employment which leads to constant and substantial overall income gains.

1 comments

Interestingly, of the neighboring states, only SD exhibits the same shape of curve (although NE is close, with a decreasing of the slope at the end, like KS, which is nearby).

It certainly doesn't seem like full employment, but it also doesn't seem like it can be extrapolated to the other 99% of the population in other states (not that I'm saying that's what you were implying).