Apr 26, 2023
The question, “How much do Americans earn?” seems
simple. But there are so many moving parts below the surface that
there is no single answer. For example, by “earn” do we mean “money
from a job” or are we including interest income. What about Social
Security retirement benefits? What about government welfare
benefits? When we say “Americans” do we mean individual workers, or
families, or households? When we say “How much” do we mean the
average number or the median?
Foolishness of the week: 02:43
Main episode: 06:00
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https://globalnews.ca/news/9642634/psac-stike-remote-work/
https://www.dw.com/en/german-editor-fired-over-ai-created-schumacher-interview/a-65405192
Foolishness of the Week
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Episode Topic
(Numbers are for 2021)
Personal income: Income earned by all people from all sources
Median personal income: $38,000
Mean personal income: $57,000
Usual Full-Time Earnings: Wages and salaries earned by workers who
are employed full-time
Median usual earnings: $56,000
Family income: Income earned from all sources by households of two
or more related people
Median family income: $89,000
Mean family income: $121,000
Household income: Income earned from all sources by households of
one or more people
Median household income: $71,000
Market income: Household income earned from market activities
only
Median market Income: $64,000
Per-capita GDP: All the income generated in the economy divided by
the population
Per-capita GDP: $70,000
https://www.census.gov/data/tables/time-series/demo/families/households.html
https://fred.stlouisfed.org/series/MEPAINUSA672N
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