Think Tank
Appears in 2 stories
Institutional home of Mark Perry and the Chart of the Century
For decades, economists have argued over whether life is getting more affordable. A new analysis of Bureau of Labor Statistics data from 2000 to 2025 shows that while the Consumer Price Index rose 92.6%, average hourly wages climbed 131.1%—meaning workers can buy 20% more goods today for the same hours worked. The finding rests on measuring 'time prices': not what things cost in dollars, but how many hours of labor it takes to afford them.
Updated Jan 30
Critic of SPM methodology and threshold calculations
The Census Bureau announced on September 9, 2025 that poverty fell to 10.6% in 2024—the lowest in years and proof, officials said, that the economy was lifting Americans up. But buried in the same report: a different poverty measure showed 12.9% of Americans struggling, with no improvement at all. Same country, same year, two completely different stories about who's hurting.
Updated Jan 12
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