Earlier this week, the U.S. Census Bureau announced its income, poverty, and health insurance coverage statistics for 2012. According to the numbers, the median household income in the U.S. last year was $51,017, not statistically different in real terms from the 2011 median of $51,100. This followed two consecutive annual declines. OK … in unreal terms, I count three. I suppose I need to sue the educational system for teaching me unrealistic math.
A comparison of real household income over the past five years shows an 8.3 percent decline since 2007, the year before the nation entered an economic recession.
The Bureau also determined that the changes in the real median earnings of men and women who worked full-time, year-round between 2011 and 2012 were not statistically significant. In 2012, the median earnings of women who worked full-time, year-round ($37,791) was 77 percent of that for men working full-time, year-round ($49,398)—not statistically different from the 2011 ratio. The female-to-male earnings ratio has not experienced a statistically significant annual increase since 2007.
I call these statistics stagnation bordering on degradation, and, in real-life terms, an insult to wage earners, particularly women. Perhaps this is one of the reasons women are more likely than men to feel undervalued at work. The latest Randstad U.S. Survey substantiates this probability. Only 57 percent of women felt that their salary was adequate for their position of responsibility compared to 65 percent of men. (more...)