H. Luke Shaefer

Shaefer sees small gains in US median household incomes as evidence of long post-recession recovery

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"U.S. household income increases for third straight year to $61,372, census data show" - NBC News. 9/12/2018.

ISR's Luke Shaefer says he's "disappointed" in the 1.8% increase in median household income for 2017 reported by the Census Bureau. He said the newly released Census numbers show a lack of robust income improvement for Americans with full-time jobs. "When the economy is improving, you should be seeing some real wage gain, not remaining flat for those working full-time," he says. As far as the impact of the 2017 tax bill, Shaefer says it's too early to tell. "We had a really bad recession and now we're having a really long recovery."

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