It’s hard to imagine a better Census report whether your main concern is overall economic growth or how the poor and middle class are doing relative to the upper middle class and rich.

Between 2017 and 2018:

·       Real median family income up 1.2%

·       Real median earnings up 3.4%

·       Full-time, year-round workers up 2.3 million

·       Poverty rate down from 12.3% to 11.8%; childhood poverty fell faster; net 1.4 million people left poverty

·       Income in the bottom 80% of households was up significantly, only the top 20% of households saw an income decline.

In sum, 2018 worked for everyone. The economy did well, all the real measures of economic well-being were improved, and the Gini coefficient went down. More money, more equality. But you wouldn’t know it from the headlines. “

You wouldn’t know this from the news media. They got it totally wrong.

Read the whole thing: https://www.realclearmarkets.com/articles/2019/10/10/the_economic_news_from_the_census_bureau_is_very_good_103941.html