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BLS: 167 Of Largest Counties Had YoY Weekly Wage Decreases, Yet Real Median Household Income Rose By Most Since 1984

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

According to the Bureau of Labor Statistics, 167 of the largest counties in the US had “over-the-year” weekly wage decreases. From Q1 2015 to Q1 2016.

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Yet, according to the US Census Bureau, real median household income by the biggest amount since 1984.

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Sentier Research uses the Census Bureau’s Current Population survey and finds a similar pattern.

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Let’s compare real median household income to Average Weekly Earnings of All Employees: Total Private YoY. This doesn’t look so good after all.

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Let’s take a closer look. Ah, the real median household income record spike coincides with a trough in average hourly earnings YoY to the peak for 2014 … but for 2015, average hourly earnings YoY moved from a peak to a lower YoY gain by the end of 2015. And since the end of 2015, average hourly earnings YoY has been nosediving.  Consistent with the BLS chart of county declines in wage earnings.

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Real median household income is for 2015, but the chart makes it look like 2014. It is not. Average wage income YoY was falling during 2015, yet the Census Bureau reports a record increase in real median household income.

So there seems to be an inconsistency between the BLS and the Census Bureau in terms of reporting wages and family income.

My only explanation is that The Incredible Burt Wonderstone is running the Census Bureau.

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So instead of the “disappearing audience trick,” we now have the “reappearing household income trick.”

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