>Salaries and wages, the largest component of total income, increased 1.7 percent
Despite reported massive layoffs and downturn of economic activity from pandemic.
>Another large component of total income in 2020, net capital gains (less loss), showed a major increase of 29.3 percent.
Despite a huge dip in March 2020, the stock market ended the year up significantly from the start of the year.
>Due to the widespread COVID issues, unemployment compensation showed a major increase of 1,794.2 percent for 2020.
Mostly non-taxable due to a one-time law change. And despite salaries and wages going up too!
>Salaries and wages, the largest component of total income, increased 1.7 percent
Despite reported massive layoffs and downturn of economic activity from pandemic.
>Another large component of total income in 2020, net capital gains (less loss), showed a major increase of 29.3 percent.
Despite a huge dip in March 2020, the stock market ended the year up significantly from the start of the year.
>Due to the widespread COVID issues, unemployment compensation showed a major increase of 1,794.2 percent for 2020.
Mostly non-taxable due to a one-time law change. And despite salaries and wages going up too!