Statistics, statistics.

Robert Reich.

As a result of increasing global competition and technological advancements, the US and other post-industrial nations have seen declining median incomes….

So, is this true?

_____________________________________________________________________________
Number Median income Mean income
with ______________________ ______________________
Region income Current 2007 Current 2007
and year (thous.) dollars dollars dollars dollars
_____________________________________________________________________________
UNITED STATES
2007 210,019 $26,625 $26,625 $38,174 $38,174
2006 208,491 25,795 26,527 37,517 38,581
2005 207,231 24,325 25,835 35,499 37,703
2004 35/ 205,157 23,214 25,482 33,859 37,167
2003 203,482 22,672 25,560 32,976 37,176
2002 202,275 22,118 25,492 32,222 37,137
2001 200,814 21,934 25,688 32,099 37,593
2000 30/ 200,208 21,516 25,906 31,199 37,565
1999 29/ 198,099 20,584 25,614 29,677 36,929
1998 193,642 19,953 25,347 28,236 35,869
1997 191,615 18,756 24,159 27,022 34,806
1996 189,997 17,587 23,143 25,466 33,511
1995 25/ 188,073 16,775 22,662 24,211 32,707
1994 24/ 186,402 15,943 22,057 23,278 32,204
1993 23/ 184,611 15,427 21,798 22,199 31,367
1992 22/ 183,692 14,902 21,577 20,758 30,056
1991 181,222 14,688 21,806 20,280 30,109
1990 180,465 14,383 22,119 19,842 30,515
1989 178,852 13,856 22,371 19,348 31,238
1988 177,177 12,935 21,785 18,049 30,398
1987 21/ 175,374 12,103 21,132 17,041 29,753
1986 172,293 11,546 20,840 16,174 29,194
1985 20/ 170,163 11,008 20,229 15,323 28,158
1984 19/ 167,738 10,417 19,800 14,412 27,394
1983 164,739 9,720 19,232 13,362 26,437
1982 162,227 9,143 18,862 12,709 26,219
1981 161,828 8,532 18,664 11,909 26,051
1980 159,487 7,944 19,032 10,998 26,348
1979 18/ 158,050 7,254 19,308 10,121 26,939
1978 147,473 6,813 19,871 9,451 27,565
1977 139,422 6,429 20,037 8,886 27,695
1976 17/ 135,945 6,002 19,887 8,242 27,309
1975 16/ 132,041 5,664 19,847 7,704 26,995
1974 16/15/ 130,505 5,335 20,230 7,255 27,511

The one to look at is of course the one in constant, 2007, dollars. This takes account of inflation. And the answer is that no, the US has not been seeing declining median incomes.So Mr. Reich can bugger off then, can\’t he? For it\’s very difficult to say that median incomes which have risen by some 30% since the beginning of the current wave of globalisation have been declining as a result of said global competition.

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