According to the latest economic research, median household income is up significantly compared to previous years. Inflation-adjusted median household income hit $62,450. That is the highest level since the research group started tracking such economic numbers 18 years ago. In fact, when you combine these economic statistics with annual Census data, you discover that median household income is at an all-time high.
If you have been listening to my commentaries, you know that I rarely talk about such economic news. I made an exception in this case for a very good reason. Median household income is the highest it has ever been, but I doubt you heard much about it in the mainstream media.
I think you probably know the reason for that. Members of the media dislike President Donald Trump. But don’t you think it is good news for families that household income has increased by 4% in the 19 months Trump has been president? Before he took office, household income had been flat. During the eight years when President Obama was in office, median household income only rose 0.3%.
Frequently I say on radio that presidents often take too much credit for a good economy and receive too much blame for a bad economy. But political and economic policies do make a difference, and the latest economic news should be reported and at least partial credit should be given to the current administration.
Other positive news that is often overlooked is the Conference Board report that consumer confidence just hit an 18-year high. The same report indicates that job satisfaction is the highest it has been since 2005. A different survey found that 86% of blue-collar workers said they were satisfied with their jobs.
This is positive news that you probably won’t hear too often. That’s why I wanted to tell you about it today.