Standard of Living: Real Income & Consumption Per Household November 3, 17 Dr. Edward Yardeni 516-972-7683 eyardeni@ Debbie Johnson 4-664-1333 djohnson@ Mali Quintana 4-664-1333 aquintana@ Please visit our sites at www. blog. thinking outside the box
Table Of Contents Table Of Contents Real Pay Per Household & Per Employee 1 Real Income Per Household & Per Capita 2-3 Real Mean Household Income 4 Real Consumption Per Household 5 Real Compensation Per Employee 6 November 3, 17 / Standard of Living: Real Income & Consumption Per Household www.
Figure 1. Real Pay Per Household & Per Employee REAL COMPENSATION PER EMPLOYEE & PER HOUSEHOLD* (thousand 09 dollars, saar, ratio scale) Q3 Real Compensation (saar) Per Household (77.3) Per Employee (payroll survey) (62.7) Per Employee (household survey) (59.6) 68 72 74 76 78 82 84 86 88 92 94 96 98 00 02 04 06 08 10 12 14 16 18 * Compensation of all employees including wages, salaries, and supplements per household. Source: Bureau of Economic Analysis. 56 54 52 48 46 44 42 Figure 2. WAGES & SALARIES PER EMPLOYEE* (09 thousand dollars, saar, ratio scale) Real Compensation Per Household Employee (48.3) Real Compensation Per Payroll Employee (.8) 56 54 52 48 46 44 42 38 38 36 36 34 34 32 32 28 28 26 26 24 24 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 07 09 11 13 15 17 19 * Wages, salaries and supplements in personal income divided by payroll or household employment. Using personal consumpton expenditures deflator. Source: US Department of Labor, Bureau of Labor Statistics, and US Department of Commerce, Bureau of Economic Analysis. Page 1 / November 3, 17 / Standard of Living: Real Income & Consumption Per Household www.
1 Figure 3. Real Income Per Household & Per Capita REAL PERSONAL CONSUMPTION EXPENDITURES PER HOUSEHOLD vs. REAL COMPENSATION PER HOUSEHOLD (thousand dollars, saar) 1 Real PCE Per Household* (.0) Real Compensation (saar) Per Household (77.3) Q3 68 72 74 76 78 82 84 86 88 92 94 96 98 00 02 04 06 08 10 12 14 16 18 * 09 dollars. Source: Bureau of Economic Analysis, Bureau of the Census and Current Population Reports. Figure 4. REAL PER CAPITA INCOME (thousands of 09 dollars, saar) Personal Income Per Capita Disposable Personal Income Per Capita 10 64 66 68 72 74 76 78 82 84 86 88 92 94 96 98 00 02 04 06 08 10 12 14 16 18 Source: US Department of Commerce, Bureau of Economic Analysis. 10 Page 2 / November 3, 17 / Standard of Living: Real Income & Consumption Per Household www.
115 Figure 5. Real Income Per Household & Per Capita REAL HOURLY COMPENSATION: NONFARM BUSINESS (09=) 115 105 Q3 105 95 95 85 85 75 87 88 89 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 21 75 * Real hourly compensation includes wages, salaries, and benefits. Source: Bureau of Labor Statistics. 24 Figure 6. AVERAGE HOURLY EARNINGS (dollars per hour in 09 dollars, ratio scale) 24 AHE: Total Private/PCED AHE: Production & Nonsupervisory Workers/PCED 18 18 16 16 14 87 88 89 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 21 Source: Bureau of Labor Statistics. 14 Page 3 / November 3, 17 / Standard of Living: Real Income & Consumption Per Household www.
Real Mean Household Income 1 Figure 7. REAL INCOME vs REAL PAY PER WORKER 1 Mean Real Family Income (14 dollars) Mean Real Household Income (14 dollars) 16 16 Real Pre-Tax Compensation Per Payroll Employee* (thousand dollars, 3-month average, saar) 68 72 74 76 78 82 84 86 88 92 94 96 98 00 02 04 06 08 10 12 14 16 18 * Three-month average of wages & salaries plus supplements to wages & salaries divided by personal consumption expenditures deflator divided by payroll employment. Source: US Department of Commerce, Bureau of Economic Analysis, and US Department of Labor, Bureau of Labor Statistics and Bureau of the Census. 95 Figure 8. REAL INCOME vs REAL COMPENSATION PER HOUSEHOLD 16 95 Mean Real Family Income (14 dollars) (97.4) 85 75 Mean Real Household Income (14 dollars) (83.1) Q3 85 75 65 65 55 45 Real Compensation Per Household (77.3) 68 72 74 76 78 82 84 86 88 92 94 96 98 00 02 04 06 08 10 12 14 16 18 55 45 Source: US Department of Commerce, Bureau of Economic Analysis, and US Department of Labor, Bureau of Labor Statistics and Bureau of the Census. Page 4 / November 3, 17 / Standard of Living: Real Income & Consumption Per Household www.
Figure 9. Real Consumption Per Household REAL PERSONAL CONSUMPTION EXPENDITURES PER HOUSEHOLD (thousand dollars, saar) 68 72 74 76 78 82 84 86 88 92 94 96 98 00 02 04 06 08 10 12 14 16 18 Source: Bureau of Economic Analysis. 1 1 Figure 10. REAL MEDIAN & MEAN HOUSEHOLD INCOME vs. REAL PERSONAL INCOME PER HOUSEHOLD vs. REAL PERSONAL CONSUMPTION EXPENDITURES PER HOUSEHOLD (thousand dollars, saar) 1 1 Personal Income Per Household* Disposable Income Per Household* PCE Per Household* Mean Household Income** Median Household Income** 16 16 68 72 74 76 78 82 84 86 88 92 94 96 98 00 02 04 06 08 10 12 14 16 18 * 09 dollars using PCED. **15 dollars using CPI. Source: Bureau of Economic Analysis, Census Bureau and Current Population Reports. Page 5 / November 3, 17 / Standard of Living: Real Income & Consumption Per Household www.
Real Compensation Per Employee 66 Figure 11. REAL COMPENSATION PER PAYROLL EMPLOYEE* (09 thousand dollars, saar, ratio scale) 66 56 56 Wages & Salaries Plus Supplements (62.7) 46 Wages & Salaries (.8) 46 36 36 26 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 07 09 11 13 15 17 19 21 26 * Wages, salaries and supplements in personal income divided by payroll employment. Using personal consumpton expenditures deflator. Source: US Department of Labor, Bureau of Labor Statistics, and US Department of Commerce, Bureau of Economic Analysis. 72 Figure 12. REAL COMPENSATION PER HOUSEHOLD EMPLOYEE* (09 thousand dollars, saar, ratio scale) 72 62 62 52 52 Wages & Salaries Plus Supplements (59.6) 42 Wages & Salaries (48.3) 42 32 32 59616263646566676869717273747576777879818283848586878889919293949596979890010910111213141516171819 * Wages, salaries and supplements in personal income divided by household employment. Using personal consumpton expenditures deflator. Source: US Department of Labor, Bureau of Labor Statistics, and US Department of Commerce, Bureau of Economic Analysis. Page 6 / November 3, 17 / Standard of Living: Real Income & Consumption Per Household www.
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