“The $1 is measured in international dollars. This means it buys the same amount of goods and services in any country as a US dollar does in the United States. It is often used alongside purchasing power parity (PPP) data. The “time” refers to a day of life for anyone, at any age and in any circumstance — not just the hours worked by someone with a job.”
Inequality doesn’t mean anyone is poorer.
The bottom quintile of US workers has seen their real incomes rise from $9400 in 1984 to $16k in 2023. So it’s fairly obvious that the incomes have risen.
2 Comments
[deleted]
That’s a pointless metric.
“The $1 is measured in international dollars. This means it buys the same amount of goods and services in any country as a US dollar does in the United States. It is often used alongside purchasing power parity (PPP) data. The “time” refers to a day of life for anyone, at any age and in any circumstance — not just the hours worked by someone with a job.”
Inequality doesn’t mean anyone is poorer.
The bottom quintile of US workers has seen their real incomes rise from $9400 in 1984 to $16k in 2023. So it’s fairly obvious that the incomes have risen.
https://fred.stlouisfed.org/series/CXUINCAFTTXLB0102M
https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=3%2C200.00&year1=198401&year2=202401