This morning, the Census Bureau released its report, Income, Poverty, and Health Insurance Coverage in the United States: 2005.
Nationally, 2005’s 1.1 percent increase marked the first time that real median household income showed an improvement since 1999. The poverty rate remained statistically unchanged from 2004, which marked the end of four consecutive years of increases. That’s one tale of the economy.
But, as OMB Watch noted yesterday, the raw numbers are misleading unless historical benchmarks are taken into account. The economic tale that does so is not as sanguine.