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Do you count on job income?

Christopher Harris

According to a recent report from Wells Fargo Bank, Americans are barely getting most of their income from their jobs. Back in 1980, Americans received 59% of their personal income from their wages and/or salary from their occupations, but today, that number is down to 51%. Most interesting is that apparently, America is truly becoming a “welfare nation”, because whereas Americans got 12.1% of their income from “transfer payments” (government sponsored social insurance programs such as disability insurance and food stamps), today that accounts for 17.3% of personal income.

Check out the chart and the link below for more detailed information.

Income Sources - UA edit

 

https://www08.wellsfargomedia.com/downloads/pdf/com/insights/economics/special-reports/AmericasIncomeComposition_06022014.pdf?

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