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by CompelTechnic 2891 days ago
Many of the facts you stated are relatively invariant to the strength of the economy. I do not have good sources to describe how they have changed over time, but I would assume that points 1,3,4, and 5 are true nearly all the time. Additionally, for point 2, real wages going down on a timespan of 1 year is essentially noise in the face of rising real wages by various measures by FRED.

https://fred.stlouisfed.org/tags/series?t=real%3Bwages

1 comments

If it's invariant then I find it even more disturbing.
A lot of these facts are designed to make scary headlines.

#1 and #3 are both symptoms of a common cause- essentially zero savings rate for a wide swath of the American population. For the large fraction of people, failing to save is a behavioral phenomenon. For many people, doubling their income would still result in them living paycheck to paycheck.

For #5, 17% of canadian children are living in poverty, 1 in 5 French children live in poverty, and poverty affects more than one in four children in the UK today (https://globalnews.ca/news/3739960/canadian-census-children-...) (http://www.france24.com/en/20150609-unicef-report-france-chi...) (http://www.cpag.org.uk/content/child-poverty-facts-and-figur...). Of course, each country sets its own poverty line to represent a socially-empathetic income level, resulting in pretty-even levels of nominal poverty across countries. It is not that surprising that expanding the scope of headline-worthy impoverishness to be "low-income or in poverty" would result in headline #4.