| ▲ | gruez an hour ago | |
>Still, this makes my case even stronger since personal controls for adding more earners to a household. If real median personal income only rose from ~$28k in 1974 to ~45$k today, that's a 60% increase. Labor force participation rate for both males and females has basically been flat for the past decade, so the recent discontent about "costs are all increasing while wages are stagnant or worse" is still unsupported. Moreover the 1970s was never an era of stay at home moms. Female labor force participation rate was already 45%, against around 78% for male. It also topped out at around 60% (so basically 15% increase, max) with the rate for males dropping. | ||
| ▲ | mynameisbilly 30 minutes ago | parent [-] | |
Right, except I acknowledged my initial statement was wrong because I was basing it off of household income when you were actually referring to personal income. So why did you spend the effort refuting that? Median personal income is per individual, which is obvious. After I corrected myself the question then became "did the typical individual's real income keep pace with the cost of the things they can't avoid buying?". The answer is no. And I already showed why. | ||