Michigan is a low-prosperity state in a strong economy
2017 per capita income data for states has been published. What the data make clear for Michigan is that we are now structurally a low-prosperity state. No matter whether the state’s and the nation’s economy is growing or declining Michigan’s per capita income––in a strong economy with an even stronger domestic auto industry––is 11 percent […]
The bachelors degree premium detailed
The Federal Reserve Bank of St. Louis’ report The Financial Returns from College across Generations: Large but Unequal details the bachelors degree premium irrespective of race or parents education. And that premium is substantial for all. The data come from Federal Reserve’s 2016 Survey of Consumer Finances which surveyed a nationally representative sample of 6,248 […]
Detroit, Grand Rapids and Minneapolis work earnings
In our last post we explored 2017 American Community Survey data on median earnings from work of those 25 and older who worked for the nation, Michigan, and Minnesota. Earnings included in the data are wages and salaries from a job plus net self-employment income. In this post we look at that same data for […]
New data on earnings from work by education attainment
The recently released 2017 American Community Survey provides data on median earnings from work of those 25 and older who worked. The table at the end of this post presents that data for the nation, Michigan, and Minnesota–the Great Lakes most prosperous state. Earnings included in the data are wages and salaries from a job […]