- median household income rose to more than $68,700 just over the last year, a 6.8% year-on-year rise
- black median household income rose to $66,500—up 7.9%
- Hispanic median household income rose to $56,100—up 7.1%
- women median income rose to $47,300—up 3%
- poverty rate fell to 10.5%
- child poverty rate fell to 14.1%
These are all highs (or lows) over the last several decades, and the sizes of the changes are historically large, also.
Over the last three-ish years, median household income has increased by 9%. That’s associated with a decrease in income inequality, including a small decrease in the share of income held by the top 20% over the same period paired with a bottom quintile increase of 2.4%.
Notice how all of this coincides with the pre-Wuhan Virus situation unemployment rates—at historic lows for our general population and for blacks and Hispanics in particular—along with rising labor force participation rate, which remains low, but it’s climbing from the historic lows achieved during the prior administration’s eight years.
One major factor little commented on in the NLMSM is the effect on prosperity and income inequality of folks in the bottom quintile actually having a job and an income—especially minority folks.
Which administration is it, again, that’s been in charge?