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Practice Speaking: Re-tell lecture ID: #47780 Long 30 RL
Instructions
What matters is how much does each person in the household get, how much income is supporting each person in a household. Look what happens we take that 18 percent figure. Again the figure I remind you is from 1976 until 2006 in inflation-adjusted terms. The income above the median household income of Americans rose only by 18 percent, but at the same time the size of the household has fallen. So what's happened to the average income per person in the household. Per household person income per each individual in the household over that thirty-year period. We see that that rose not by 18 percent but by 32 percent because the number of people in a household haven fallen, the amount of income earned by the household goes further per person. Because there were fewer people to share per person. Each person gets a larger slice of the pie because of few people sharing the pie. Just making that one adjustment looking at what's happened to the size of households causes that 18 percent figure to rise to 32 percent. 32 percent's still not great over a 30-year period but it's different than 18 percent, a little bit more optimistic and if nothing else, it should give you some sense that data have to be interpreted carefully.

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