Other pages about the topic: Economy
Average Wages, 1980
Inflation-Adjusted to 2017 Dollars
Inflation-adjusted to 2017 dollars
Median Household Income Estimates by County: 1989 to 2017 and Projection for 2018
This file contains long-term population, resident civilian labor force, employment and personal income projections for Washington state. In contrast to the short-term economic forecasts that focus on assessing business cycle conditions, long-term projections examine demographic trends, structural changes in industries, changes in production factors such as labor supply and capital investment and technology/productivity advances. Data are now forecast to 2040.
What is inflation?
Inflation has been defined as a process of continuously rising prices, or equivalently, of a continuously falling value of money. In other words, inflation causes the buying power of a dollar to decrease over time. A 15 cent hamburger in 1966 seems to us a lot cheaper than the 79-cent hamburger of today. But when the price of that 1966 burger is adjusted for inflation, the price is comparable.
This report is prepared pursuant to Section 708 of Third Engrossed Substitute House Bill 2127 (Sec. 708 3ESHB 2127). The overall objective of this study is to provide information on the distribution of income, wealth and taxes across Washington households as well as changes in the distribution of income, and wealth over time.