Yep, The Economy Really Is Starting to Deliver Higher Earnings

Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.


Paul Krugman posted an interesting chart today, which I’ve simplified on the right to show only household income. It comes from Sentier Research, which tracks income in a more timely manner than the Census Bureau (though they use Census data). I noted the other day that if you looked at total worker compensation (including things like health insurance), then we’d finally seen a fairly healthy upward trend in 2015. But according to Sentier, even if you look only at ordinary cash income, we’ve pretty much recovered from the Great Recession. Household income has grown at the rate of 3-4 percent annually for the past two years. It took a long time to get there, but the recovery really does seem to finally be showing up in higher earnings.

This helps explain the sharp upward tick in Gallup’s poll about personal satisfaction that I wrote about yesterday: it’s because the economy really did start performing better for a lot of people in 2015. Now it’s time to try to persuade everyone that the country really isn’t going to hell in a handbasket even if Fox News and MSNBC spend every primetime evening telling us otherwise.

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

payment methods

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

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