From BEA, median equivalized personal income, and net domestic product.
Source: BEA, accessed 10/30/2023.
Source: BEA, accessed 10/30/2023.
For a time series plot of quarterly NDP compared to GDP (pre-comprehensive revision), see this post.
More measures from BEA, here. Many have not been updated to reflect the 2023 comprehensive revisions.
Trump’s ego has no bounds – signing the Bible? Just wow:
https://www.businessinsider.com/trump-signed-bible-autograph-for-sale-seller-criticizes-church-photo-2020-9
A Bible signed by Donald Trump days after his St. John’s Church photo-op is for sale for $37,500. The seller calls Trump’s actions ‘revolting.’
The south USA “fundamentalist” “Christians” love donald trump. The same as they love materialist Joel Osteen. I’m assuming they’ll both get their own books attached to the southern “fundamentalist” “Christian” New Testament. Telling people if they aren’t at least upper middle class that God hates them. Oh, they should also lie about their asset values to keep Satan away.
Appreciate the BEA links. Probably wouldn’t have found these on my own and they look very edifying. I’m gonna try to make time this week to read them careful. I have such a long list of things I read and something always seems to lose out, mostly due to my own laziness.
According to BEA, GDP per capita grew at 1.1% from 2007-2022. Median usual weekly real earnings grew at about have that rate.
Anyone care to speculate on where the other half went?
“GDP per capita grew at 1.1% from 2007-2022.”
Little Jonny needs to learn how to write. REAL GDP grew by a lot more than 1.1% over this 15 year period. Now if how dumbest troll say real GDP grew by an average of 1.1% PER YEAR, people might take this little moron seriously.
How Jonny boy – once you correct your pathetic question – why don’t you find some real evidence to answer your own question.
Kevin Drum: “Autoworkers still won’t be at the wage level of 2019.” But they will get COLA, which is something to cheer about.
Of course, Democrats’ filibuster-proof majority in 2009 could have allowed them to propose and pass a COLA for the federal minimum wage and passed union card check. But they punted.
I guess you did not realize what happened to this sector some 14 years ago. Of course you don’t as you are the dumbest troll ever. DUH!
BTW moron – even an indexed minimum wage would have had that wage rate far below what the auto workers are getting. Yes – little Jonny boy once again fails to grasp the issue on the table so he goes off on one of his patented little hissy fits.
Wow! pgl actually knows that the minimum wage is FAR below what auto workers get!!! And in real terms it’s even FAR below what it was the last time that Democrats raised it fourteen years ago.
But he can’t telll us why Democrats–with a filibuster-proof majority–didn’t bother to pass a COLA for the federal minimum wage…even as part of an omnibus bill or snuck into a budget reconciliation. Same is true of union card check, something they campaigned heavily on in 2008…before they betrayed labor.
Of course, pgl will have one of his hissy fits now…inconvenient facts are just so annoying to partisan hacks like him.
Try to make your dumba$$ comments relevant to the discussion. Oh wait – you have no clue what the adults are discussing. Carry on little baby.
Hard to tell whether Jonny boy is being less than honest (again) or he is once again proving he is a total moron. Let’s suppose we had indexed the $7.25 per hour Federal min. wage back in 2009. CPI has risen 45% since so his little weenie idea would have us at $10.50 per hour now. I know, I know – little Jonny boy is incapable of doing first grade arithmetic so hey.
$10.50 an hour is eclipsed by the state min. wage in many states. Even Obama proposed increasing the min. wage to this level back when he was President. Hillary Clinton proposed a $12 Federal min. wage 7 years ago and she is now advocating $15 an hour. And yet real progressives criticized them for not going further.
But little Jonny boy is so stupid that he has no clue that his little weenie idea is far short of other proposals who are not exactly raging progressives.
Complaints about increases in the minimum wage in California have been consistent since a 2017 law was passed that would raise the minimum wage to $15/hr by 2023: ie.,higher prices, more automation (hence diminishing need for workers) industry consolidation, etc. and more of the same today since Gov. Newsom signed into law a $ 20/hr minimum for many (but not all) employees next year.
Opposition? In today’s Washington Free Beacon , Will Swain, president of the “conservative California Policy Center”” says “This is absolutely class warfare carried out by California’s unions,” noting that smaller operations may not be able to compete at the $20 level.
Surprise! The new “Workers’ Party” has always been and always will be opposed to workers and union representation.
As a frequent visitor at McD’s for coffee and iced tea, there’s been one constant the past few years: a prominent sign out front advertising for workers. And they’re not alone in offering starting wages above the minimum.
Oh. One other note. Grandson who works at a large collision repair facility, laments the labor pool now available for their starting wage—$18–for jobs requiring only minimal skills to start.
“This is absolutely class warfare carried out by California’s unions”
Question for Will Swain, president of the “conservative California Policy Center”
Wait – didn’t the monopsonists start this war. I guess they are upset that workers fight back. Boo hoo.
Noneconomist warns us about someone named Will Swain. I did a little searching and it seems this “conservative” writes for the National Review. Sure sign of a right wing liar.
I wanna be on record as being on Noneconomist guy’s side on this one.
OK – we are having to endure more pointless whining from little Jonny boy as this worthless lying troll wants to bash Democrats and economists over something to do with the minimum wage. I had to do a little searching over at Econospeak as I recalled something useful and there it was by Peter Dorman some 8 years ago:
https://econospeak.blogspot.com/2015/10/where-does-minimum-wage-max-out.html
No little Jonny boy did not comment on this back then and I do not expect this stupid waste of space to read it now. After all, it is economics which is way over little Jonny boy’s pea brain.