Links of note 9/14/2016

U.S. Household Income Grew 5.2 Percent in 2015, Breaking Pattern of Stagnation [New York Times]
White House trumpeting these three takeaways: (1) median household income in 2015 up 5.2 percent from the previous year — the largest single-year increase since record-keeping began in 1967; (2) about three and a half million people moved out of poverty since last year—the largest one-year drop in poverty since 1968; and (3) the uninsured rate is the lowest since they began keeping records. The Times article emphasizes those points, but notes that median household income is still 1.6 percent lower than in 2007, adjusting for inflation, and 2.4 percent lower than the peak reached during the late 1990s. The Times also notes that the income gains “came mostly from job growth rather than wage growth. More people are working, but many of them are still struggling to maintain their standard of living.”

Related articles:

Goldman Sachs Isn’t That Worried About Technology Destroying Your Job [Bloomberg]
“[W]orkers are already responding to the new employment landscape by taking on “adaptive occupations” that are better insulated from the rise of the machines. Such occupations include nurses and web developers but can also extend to more traditional vocations such as carpenters, plumbers, and tailors.”