Americans’ median household income rose in 2023—the first time since before the pandemic
The inflation-adjusted median income of U.S. households rebounded last year to roughly its 2019 level, overcoming the biggest price spike in four decades to restore most Americans’ purchasing power. The proportion of Americans living in poverty also fell slightly last year, to 11.1%, from 11.5% in 2022. But the ratio of women’s median earnings to men’s widened for the first time in more than two decades as men’s income rose more than women’s in …
Real median household income rose sharply in 2023—a testament to the strength of the economic recovery
Today’s Census Bureau data on earnings, income, and poverty in 2023 confirmed many of the predictions made in our preview last week. The strong labor market and falling inflation translated into increases in real median household income and decreases in the official poverty rate. Real (inflation-adjusted) median household income increased by 4.0% to $80,610, the first increase since the…
U.S. household income rose by 4.0% in 2023, reaching $80,610
The U.S. Census Bureau’s 2023 Annual Social and Economic (ASEC) report reveals a nuanced picture of the economic state of American households. While the data shows significant improvement in real household income, other key indicators, such as poverty rates and gender pay disparities, highlight ongoing challenges for many families. The report underscores the uneven economic recovery as the U.S. emerges from the disruptions of the COVID-19 pandem…
U.S. Household Income Rose 4 Percent in 2023, Median Level at $80,610
The U.S. Census Bureau has announced that real median household income increased by 4.0% between 2022 and 2023. At the same time, the official poverty rate fell 0.4 percentage points, to 11.1%, in 2023.
