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New data show much faster growth in wages and incomes.
Wages and salary figures have been going up faster than previously estimated, with the year-over-year increase revised from 3.6% to 5.5%. Even after adjusting for inflation, that is 4.1%.
Overall personal income is up, transfer receipts (welfare) are down, and savings is up. Americans are relying less on the government and saving more of what they earn. Personal savings is 8.1%, not the 6.1% that had been estimated. Consumer spending is up despite the increase in savings. The fact that spending isn't accompanied by a household debt increase makes the economic expansion more durable.
The numbers for the first quarter of 2019 look particularly good for reducing income inequality. Corporate profits declined while wages grew at an annualized rate of 10.1%.
(Score: 0) by Anonymous Coward on Saturday August 03 2019, @02:43PM
Now you're browser-printing users? Or did DM say he uses palemoon?
On topic I did check your link and while the % was higher for lowest earners the extra couple of points is literally cents. Like a full whopping quarter. Now a few % points for mid and top level earners is a massive portion of the low wage person's YEARLY take.
Forgot how much of a disingenuous prick you are.