Income statistics

The US Census Bureau has released the Current Population Reports on Consumer Income for 2005.

The Bureau is touting the fact that Median Household Income (in real terms) rose from $45,817 to $46,326 (about 1.5%) between 2004 and 2005. I guess they hope to use these data to offset the report in the NY Times the other day that this is the first recovery since World War II in which real incomes have fallen.

What the Census Bureau doesn't tout is the fact that the real median Earnings of Full-time, Year-round workers fell between the two years. For men, the median fell from $42,160 in 2004 to $41,386 in 2005 (1.8%), and for women, the median fell from $32,285 to $31,858 (1.3%). These, of course, are the principal bread-winners, yet their incomes are falling. I guess the rise in household income is attributable to sending the kids and the grandparents (and, what otherwise might have been stay-at-home moms) out for part time work to make up the difference.

Somehow, I don't see this as much to crow about.