Credit: Shutterstock photoU.S. Census says "that real median household income increased by 3.2 percent between 2015 and 2016". That is significantly higher than real GDP which grew at 1.5%. This increase does not make sense.
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It does not seem employment growth was much of a contributor to household income.
I could produce chart after chart which demonstrates how significantly this data seems out of whack with income data from other data sets from Census, BLS or BEA. This real median income data was derived from a sample of around 50,000 households (well less than 0.5% of all USA households).
Whenever one extrapolates analysis, one tests data against other data sets. This data fails this test.
Other Economic News this Week:
The Econintersect Economic Index for September 2017 continues to remain in a tight range indicating static economic growth fundamentals for the fifth month in a row. However, this tight range remains in territory associated with normal growth. Six-month employment growth forecast is now indicating little change in the rate of employment growth.
Bankruptcies this Week from bankruptcydata.com: Privately-held AeroGroup International (a/k/a Aerosoles), Toys "R" Us (Ranks as the 3rd largest retail bankruptcy of all time--with nearly $7 billion in pre-petition assets. Kmart's 2002 and Federated Department Stores' 1990 Chapter 11 filings hold respective first and second place titles on that list), Mogul Energy International (Chapter 7)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
