While changes at the median or 10th percentile were not statistically significant between 2023 and 2024, income grew 1.3% and 2.2% in real terms at the middle and bottom, respectively. However, inequality did rise because the top grew even faster (4.2% at the 90th percentile).
#EconSky #NumbersDay

Disparities in income continue to leave families of color with children disproportionately vulnerable to poverty. Black & Hispanic children remain 3 times as likely as their white peers to suffer poverty. #EconSky #NumbersDay

But frankly this is too much to ask of our civil service—they work hard enough collecting and analyzing this data, they should not also have to be activists safeguarding its integrity.

To be fair, extreme competence and professionalism of federal workers who staff the statistical agencies have thus far shielded most of the data they release from manipulation or quality-erosion.

There is simply no substitute for government data infrastructure. Pressure from the executive branch to alter data to fit political aims will damage a valuable public good that is critical for business decisions, policymaking, and planning by all stakeholders in the economy.

Gvt staffing cuts and politically motivated firings threaten the credibility of future data releases. See Exhibit A: www.nbcnews.com/business/eco...

The Trump admin is trying to politicize federal statistical agencies and to manipulate the reporting of anything that seems like bad news for the economy. This erodes trust, is deeply undemocratic AND BAD.

Job losses were particularly acute in professional/business services, the federal govt, and wholesale trade, but there have also been sustained losses over recent months in manufacturing, construction, and mining, an indication that Trump's blue-collar renaissance is clearly not happening.
#EconSky

Wondering whether we might be headed into a recession? Check out @epi.org's Recession FAQ for data to watch and the consequences if it happens.
@joshbivens-econ.bsky.social @ahecon.bsky.social @hilwething.bsky.social @benzipperer.org
www.epi.org/publication/... #EconSky