Sunday, October 29, 2017

Where Did The Money Go?


Wilmington, Ohio's estimated median household income in 2015: $33,316 (it was $34,880 in 2000)
Estimated per capita income in 2015: $20,977 (it was $17,346 in 2000)Population in 2014: 12,375 (99% urban, 1% rural). Population change since 2000: +3.8%
Check it out:
a. Wilmington's median household income (most common occurring income) decreased from $34,880 in 2000 to $33,316 in 2015.
b. The population of Wilmington increased from 11,904 in 2000 to 12,375 in 2014.
c. The per capita (average) income increased from $17,346 in 2000 to $20,997 in 2015.
I conclude that the city's income wealth over the observed period, for the most part, didn't go away it actually increased and was simply redistributed to fewer people. This wealth transfer replicates the national trend.
A sample calculation
Population in 2000 was 11,904 with an average income of $17,346 = $206,486,784 total income.
Population in 2014 was 12,375 with an average income of $20,997 = 259,837,875 total income
Paul Hunter

For comment and correction contact paulhunter45177@gmail.com

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