ABSTRACT
Incomegrowthinrecentyearshasbeenslowandthe gainsunequallydistributed.Tables1.1and1.2show changesinfamilyincome,adjustedforchangesinconsumerprices,invariouscyclicalpeak(orlowunemployment)yearssinceWorldWarII.Asexplainedintheintroductorysectiononpresentationandmethodology, examiningincomechangesfrombusinesscyclepeakto businesscyclepeakeliminatesthedistortioncausedbythe factthatincomesfalldrasticallyinarecessionandthen recoverintheupswing(FigurelA).
