Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

Today the Census Bureau released its latest income numbers, and they weren’t pretty: median income dropped by nearly $2,000 between 2007 and 2008.  Nor was the long term picture much better: median income in the past decade has dropped from $52,587 in 1999 to $50,303 in 2008.

But there’s more to your earnings than just cash income.  As we’ve all been reminded over and over lately, healthcare costs are skyrocketing, which means that healthcare premiums paid by your employer have risen dramatically during the past decade.  That’s all part of your compensation too.  So if you add in employers’ contributions to healthcare premiums, how do things look then?

Answer: a little better, but still nothing to write home about.  Roughly speaking, if you add together both cash income and healthcare premiums and adjust everything for inflation, median income over the past decade has increased from about $56,400 to $57,000.  In other words, a whopping 1%.  It really has been a lost decade1.

1Though not for everyone.  During the same period, the average income of the richest tenth of a percent increased by about $2 million, or about 35%.  No wonder there wasn’t much left for the rest of us.

NOTE FOR NERDS: There’s no bulletproof source for the value of healthcare premiums over time, and in any case the value differs depending on whether you’re married, single, have kids, etc.  So here’s what I did to get a rough cut on the data.

Basic cash income table is here.  Healthcare premium estimates for the past decade are here.  I subtracted the employee contribution and then took the average of family and single coverage.  This may understate the cost a bit, but not by much.  Then I applied the GDP deflator to put all the healthcare costs in 2008 dollars.  This is strictly a cheap and cheerful bloggy estimate, but it’s probably not too far off the mark.

LET’S TALK ABOUT OPTIMISM FOR A CHANGE

Democracy and journalism are in crisis mode—and have been for a while. So how about doing something different?

Mother Jones did. We just merged with the Center for Investigative Reporting, bringing the radio show Reveal, the documentary film team CIR Studios, and Mother Jones together as one bigger, bolder investigative journalism nonprofit.

And this is the first time we’re asking you to support the new organization we’re building. In “Less Dreading, More Doing,” we lay it all out for you: why we merged, how we’re stronger together, why we’re optimistic about the work ahead, and why we need to raise the First $500,000 in online donations by June 22.

It won’t be easy. There are many exciting new things to share with you, but spoiler: Wiggle room in our budget is not among them. We can’t afford missing these goals. We need this to be a big one. Falling flat would be utterly devastating right now.

A First $500,000 donation of $500, $50, or $5 would mean the world to us—a signal that you believe in the power of independent investigative reporting like we do. And whether you can pitch in or not, we have a free Strengthen Journalism sticker for you so you can help us spread the word and make the most of this huge moment.

payment methods

LET’S TALK ABOUT OPTIMISM FOR A CHANGE

Democracy and journalism are in crisis mode—and have been for a while. So how about doing something different?

Mother Jones did. We just merged with the Center for Investigative Reporting, bringing the radio show Reveal, the documentary film team CIR Studios, and Mother Jones together as one bigger, bolder investigative journalism nonprofit.

And this is the first time we’re asking you to support the new organization we’re building. In “Less Dreading, More Doing,” we lay it all out for you: why we merged, how we’re stronger together, why we’re optimistic about the work ahead, and why we need to raise the First $500,000 in online donations by June 22.

It won’t be easy. There are many exciting new things to share with you, but spoiler: Wiggle room in our budget is not among them. We can’t afford missing these goals. We need this to be a big one. Falling flat would be utterly devastating right now.

A First $500,000 donation of $500, $50, or $5 would mean the world to us—a signal that you believe in the power of independent investigative reporting like we do. And whether you can pitch in or not, we have a free Strengthen Journalism sticker for you so you can help us spread the word and make the most of this huge moment.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate