Yeah. That’s what’s happened to median income for working-age households. And, as Ezra notes, “the graph ends in 2007—before the Great Recession had actually begun.”
The source of that depressing downward graph is the Economic Policy Institute’s new paper on the deterioration of living standards from 2000-2007, and how that’s been made worse by “a broad-based collapse of wage growth over the last two years.”
Something to think about on Labor Day.