TG it’s F: A happy Friday, everybody. It’s National POW-MIA Recognition Day. Take a moment to salute the 83,000 American service members still unaccounted for.
Previously: The first working photocopier, the Xerox 914, was unveiled on live TV on this day in 1959. (In NYC, natch.)
Happy birthday, Jeanne Fontana.
But first, this: American household income jumped by more than 5 percent in 2015, the Census Bureau reported this week, the biggest annual increase since the year Elvis married Priscilla.
(If you guessed 1967, ding, ding, ding.)
Although still $1,000 less than in 2007, last year’s median household earnings of $56,500 represent a big move up from the Great Recession, when salaries dipped to 17-year lows. As Larry Mishel, president of the Economic Policy Institute, put it: “This one year almost single-handedly got us out of the hole.”
The brightest news may be that the increase was driven by the poorest Americans, due not only to increases in the minimum wage – boosted by half the states since 2014 – but because of growing competition for low-paying jobs, which also pushes up wages.
As a result, incomes in the bottom 10 percent of the economy jumped by 8 percent; the top 10 percent saw an increase of less than 3 percent.
(No breakout for the One Percent, but let’s assume they’re doing alright.)
All told, almost 2.5 million Americans found full-time, year-round employment last year, putting additional pressure on employers in retail and hospitality looking for part-time or seasonal workers. Wage earners in urban markets did best; workers in coal country not so much.
In case you’re wondering: The average number of people living in a U.S. household was not a factor. Although it ticked up slightly during the recession, it has hovered at a record low of 2.54 people per household for the past three years. Lots more data in the Census Bureau report, available here.
The lingering question is how the data might sway a presidential campaign that has spent more than a year focused on the need for economic equality and American exceptionalism.
“Yes we could” sounds a little clunky.
Not especially related: A new Gallup report suggests 55 percent of millennials are not engaged in their jobs, meaning they have no energy or passion for the work they’re doing and pretty much show up for the paycheck.
Ruh roh: Another 16 percent of millennials are actively disengaged from their jobs and go to work mainly to find an opportunity to do damage to their employer.
Speaking of: Long Island added 15,000 private sector jobs in the 12 months ending in August, an increase of 1.3 percent but below the rest of the state and the nation.
One reason: The region lost more than 5,100 jobs between July and August – five times the normal rate – due to cutbacks in manufacturing and retail. Health care, construction and hospitality were the big winners.
From our sponsor: The Town of Islip’s Office of Economic Development – Whether it’s helping in site selection, cutting through red tape or finding innovative ways to meet specific needs, businesses that settle in Islip soon learn that we take a proactive approach to seeing them succeed. If your business wants to locate or expand in a stable community that offers an outstanding quality of life and the support to help you grow, then it’s time you took a closer look at Islip.
Brotherly love: Jim Dolan has acquired his kid brother Pat’s shares of the Madison Square Garden Co. and MSG Networks, fueling speculation that the elder Dolan plans to take MSG private.
Start me up: The Suffolk County IDA is hosting its fourth annual Start-Up Connect event at the Paramount in Huntington, Oct. 6, 6 to 8 p.m., entrepreneurs and funders welcome, register here. Rumored pre-event cocktailer at LaunchPad Huntington.
Get smart: Nassau Community College has added an introduction to drones course and three classes and a workshop focused on 3-D printing.
Mission Heterogeneous: The Tech Opportunity Fund plans to grant $100 million over five years to increase diversity in the technology fields, which are 93 percent male and predominantly white. Applications accepted beginning in January.
Related, sorta: The Geena Davis Inclusion Quotient can speedily measure how much screen time an actress gets.
Continuing his revamp of the state’s “archaic” liquor laws, the guv signed legislation allowing producers to sell just about anything by the glass.
Sorry, Donald. Voters like Hil’s tax plan better.
The Moiety App, a scheduling tool designed for divorced or separated co-parents (but useful for all) hits iOS next month.
Spectronics has a new deal to sell in Europe, Africa and the Middle East.
Suffolk County finally unloaded the Foley nursing facility. $15 million.
Even more here.
What bubble? The VC community raised nearly as much money in the first half of 2016 as it did in all of 2015.
Only in New York: The web-browsing feature of NYC’s sidewalk Wi-Fi kiosks will be disabled after critics complained that homeless people were monopolizing them to watch porn.
Bienvenue: Snapchat is expanding its Discover news service into France via partnerships with the newspaper Le Monde, the magazine Paris Match and the sports pub L’Equipe. A Paris office is planned.
Honest: Forward this newsletter to seven friends and it will offset you breaking a mirror in the future.
Not today: Apple has sold out all of its iPhone 7 Plus models before today’s launch in stores. And don’t even think about getting a jet black model.
You’re late: NYC has sent Verizon a default notice for failing to deliver FiOS service citywide by the agreed-to deadline. Nov. 28, 2014.
Losing face: Mark Zuckerberg trimmed his net worth to $54.7 billion last month by selling $300 million in shares to fund his foundation.
BELOW THE FOLD
You chews: Social eating, a popular Korean pastime that involves watching people eat online, is gaining traction in the United States.
Forget Santa: What you really want in the yard is an inflatable Irish pub.
Smoke on the wuhder: The Great Big Bacon Picnic will be held at the old Pfizer factory (now a food and beverage incubator) in Williamsburg, Sept. 24-25, unlimited craft bacon and booze, 100+ chefs including Long Island’s own Michael Bohlsen (Tellers, prime, Verace, yada yada). $79 for the hoi polloi, $189 makes you a VIP.
A reminder: There’s really no such thing as “free” news. Please support great causes like the Town of Islip’s economic development effort.
Did we mention liking us on Facebook?
And how about that sponsorship thing? Your logo could be drawing coos, clicks and customers at the top of our site right now.
Compiled by John Kominicki. Thanks for reading.