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Trump Effect? Household Income Hits 15-Year High
Posted on 5/24/17 at 9:03 am
Posted on 5/24/17 at 9:03 am
quote:
For eight years, President Obama endlessly talked about "middle class" economics. All the while, middle-class family incomes were stagnant. Now they are on the rise. Could Trumponomics be the reason?
In April, real median household income reached $59,361, according to the latest report from Sentier Research. That's up 2% since January, and is as high as it's been since February 2002. Expressed as an index, median household income was 100.9 in April, which is the first time this index has topped 100 since December 2008.
By comparison, this index was also lower when Obama left office than when he came in — it stood at 99.2 in January 2009, and was 98.9 in January 2017. It was just 1.7% higher than when the recession ended in June 2009. Last year, incomes barely budged, Sentier data show.
Another way to look at it: median income has climbed faster in President Trump's first three months in office than it did during 7-1/2 years of Obama's economic "recovery."
quote:
Well, we know that Trump's presidency, and the promise of a sharp turn away from the growth-suffocating policies of the past eight years, led to an immediate surge in optimism among businesses and consumers. It's possible that this has made businesses more willing to hire workers, and pay them more, than they otherwise would have. Plus, the stock market has responded with gusto to Trump.
LINK
This post was edited on 5/24/17 at 9:05 am
Posted on 5/24/17 at 9:05 am to GumboPot
quote:
median income has climbed faster in President Trump's first three months in office than it did during 7-1/2 years of Obama's economic "recovery."
IOW "WINNING"
Posted on 5/24/17 at 9:06 am to jamboybarry
Why is household income at an all time high?
quote:
...we know that Trump's presidency, and the promise of a sharp turn away from the growth-suffocating policies of the past eight years, led to an immediate surge in optimism among businesses and consumers. It's possible that this has made businesses more willing to hire workers, and pay them more, than they otherwise would have. Plus, the stock market has responded with gusto to Trump.
Posted on 5/24/17 at 9:09 am to GumboPot
Why do you hate Seth Rich's family so much? Why are you putting them through this?
They lost their son, they don't need people on the internet spreading positive news about Trump.
You sick bastard
They lost their son, they don't need people on the internet spreading positive news about Trump.
You sick bastard
Posted on 5/24/17 at 9:18 am to GumboPot
This was the main reason that I voted for Trump
Posted on 5/24/17 at 9:25 am to saints5021
quote:
This was the main reason that I voted for Trump
This is what happens when the supply of labor is decreased (which it certainly has). Companies are forced to pay more.
This is econ 101.
Posted on 5/24/17 at 9:28 am to GumboPot
quote:
No doubt Democrats will interpret these recent gains in income as either a blip to be ignored, or as a sign that the economy has finally overcome the lingering effects of the terrible Bush recession. The former is certainly possible, since three month's worth of data isn't much to go on
so you mean to tell me he did this in under 6 months? miracle i tell you miracle.
Posted on 5/24/17 at 9:31 am to GumboPot
Yup. And pressure to raise wages started before the election. These gains are great but they would have happened under Clinton too. People assign too much blame/credit to the President for economic news.
Posted on 5/24/17 at 9:32 am to GumboPot
I don't think it's possible to better cherry-pick data to fit a narrative. Great job, Investor's Business Daily.
Trump's policies may or may not be good for the economy and household income, but this data does nothing to tell us one way or another.
quote:Wow. If you look at the actual numbers, "stagnant" is the last word to describe it.
For eight years, President Obama endlessly talked about "middle class" economics. All the while, middle-class family incomes were stagnant.
quote:Nice, let's use the technical "end" of the recession as a marker and apply it to a lagging indicator, without pointing out that this HII barely dropped throughout the recession. Let's also not point out how strongly the HII rebounded, with a lag time behind the recession's "end" that was just about as long as the lag time it took for the HII to drop after the "start" of the recession.
By comparison, this index was also lower when Obama left office than when he came in — it stood at 99.2 in January 2009, and was 98.9 in January 2017. It was just 1.7% higher than when the recession ended in June 2009.
quote:Or, in other words, "an extremely biased and meaningless way to look at it".
Another way to look at it: median income has climbed faster in President Trump's first three months in office than it did during 7-1/2 years of Obama's economic "recovery."
Trump's policies may or may not be good for the economy and household income, but this data does nothing to tell us one way or another.
Posted on 5/24/17 at 9:38 am to hawkeye007
quote:
so you mean to tell me he did this in under 6 months? miracle i tell you miracle.
Not really. At a granular level it's quite simple. Corporate managers and small business owners are human beings and have human emotions. If they are under the impression that the economic environment is going to be favorable to them in the short or medium term future that sentiment can and does drive them to proceed with projects/expansions/capital improvements, etc.
Now this is the specific dynamic:
Under Obama...the direction of more taxes and regulation were assured.
Under Trump...the direction of less taxes and regulation are assured.
The direction of less taxes and regulation are always good for business. Couple that with a lower supply of labor due to the administration enforcing immigration law you have the confluence of two economic forces that are pushing household incomes up.
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