A few days ago, I blogged about the fact that more young men were living with their parents.
I found a table at the U.S. Census historical income data website that explains it. The median income for young men (aged 25-34) has been declining. In 2004 dollars (adjusted for inflation using the CPI-U-RS), the median income was $35,126 in 1974, but thirty years later in 2004 the median income declined to $30,984. That's a decline in real income of 12%.
Furthermore, the cost of housing has increased faster than inflation, so relative to housing prices the median income of young men decreased by an amount much greater than 12%. No wonder why more young men are living with their parents!
I know this chart is amazing. It seems contrary to the popular notion that we are better of now than we were thirty years ago during the 1970s, a decade of economic malaise. Well not the case for men aged 25-34! Nearly all of the gains in income have gone to women. Women of all ages have seen their salaries increase subsantially since the 1970s.
This is a topic I will surely blog about more.