Word: medians
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...Boston Co. Economic Advisors: "This is the first time in perhaps six years that the word recession is in my vocabulary, and I don't take the word lightly. I see one starting late in 1989 and going on until the first half of 1990." According to the median estimate of the ten U.S. economists surveyed by TIME, the U.S. stands a 30% chance of recession in 1989. For 1990 the probability rises...
Half of TIME's forecasters anticipate that the dollar will rise in value, and half expect the greenback to fall this year. The median prediction is for a decline from the current level of 125 yen to about 121. Estimates for the end of 1989 range from Kudlow's prediction of a robust 142-yen dollar to Wilson's forecast of a weakling 110-yen version. Says Wilson: "The biggest danger I see for the economy next year is a free-falling dollar...
...point this mutual omission became all too obvious. Lindsay trumpeted the fact that the median family income in the United States has risen by $200 over the last eight years. Kuttner responded that while the richest 30 percent of the population did gain, the bottom 70 percent lost...
Both men were right, but neither tried to reconcile the two seemingly contradictory statistics. While the 50th percentile of the population (the median) may have gained slightly, the bottom 20 or 30 percent lost so much that they dragged the bottom 70 percent down. Poverty reconciled the statistics, but it went unmentioned...
...Sleds thought their troubles would be financial, not racial. Together they make $16,000 a year -- less than Melrose Park's $22,000 median family income. Donald operates an elevator in a downtown bank. Stephanie, 35, works the midnight shift as a cashier in a filling station...