"Average" Income Rising While Real Pay Stagnates

[Omaha Steve]

http://www.laborradio.org/node/4261

Economic Report: "Average" Income Rising While Real Pay Stagnates For Most

Economic Report

By Doug Cunningham

How can wages be stagnating or falling when average income is growing? Because the top 20 percent of income earners are enjoying rising pay and it skews the overall average. The Center on Budget Priorities says this is the first time in 40 years that inflation-adjusted wages for 80 percent of workers declined during a four year economic recovery. Home prices have propped up the economy, but now for the first time in 11 years they’ve fallen as the housing bubble starts to burst.

[Davis_X_Machina]

1. If Bill Gates...

...walks in to Moe's bar, the average barfly, Homer Simpson included, is a billionaire -- till Gates leaves again.

That's why no sane economist uses averages. It's all about the median, babaaaay.