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by cheriot 1630 days ago
The data you link to shows 3 out of 5 quintiles of incomes have been flat. Meanwhile, the cost of healthcare and child care have increased faster than inflation[1]. It's nice that TVs are cheaper for better quality, but if the essentials are more expensive the people with lower (and middle!) incomes have tighter budgets than ever.

[1] https://fred.stlouisfed.org/graph/?g=Kxcc

1 comments

That article contains a "real income growth since 1967" table (about halfway down, on the right).

All quintiles show growth, with the 4th quintile (20-40th percentile) showing the lowest growth at +31.1% and the 5th quintile (lowest 20%) showing a similar +34.2% across that period of multiple decades.

That's indeed "essentially flat, but still slight growth".

"real income growth" does not account for health care and housing costs (except for people who own their home)
Their incomes are growing slower than essential expenses like childcare and healthcare...