Thursday, January 23, 2014

Most Americans Still Believe There's A Recession

Though data shows that the recession ended years ago, and that average real income has in fact now risen above its pre-recession peak (assuming the government estimate of inflation is correct), some 74% of Americans still thinks that it is a recession.

This likely in part reflects the increase in inequality (with most income gains going to the top 1%) and in part the fact that the thoroughly "chain linked" and  "hedonically adjusted" government estimates of inflation is lower than ordinary people's perception of how their cost of living have changed.


Blogger Juan Cristobal Federico Chihuahua de la Vega said...

It would be nice to see the figures for change in average income pre and post recession next to the numbers for median income.

3:35 AM  

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