US EditionUS Household Incomes Fall For Third Straight Year: Census Bureau
- In 2022, US inflation-adjusted household income dropped by the largest amount in over a decade, reaching a median income of $74,580 compared to $76,330 in 2021. This marks the third consecutive year of income decline, a trend seen in past recessions.
- Despite the decrease in overall incomes, income inequality in the US fell by 1.2% between 2021 and 2022, driven by a decline in real income among the middle and top earners. The poverty rate for the Black population also declined to 17.1%. However, child poverty rates rose significantly due to the expiration of government programs and stimulus payments.
- The Census Bureau data for 2022 revealed a decrease in the number of uninsured individuals to 7.9%. While the economy has bounced back from the initial pandemic downturn, Americans still perceive a recession due to slow wage growth and lower consumer sentiment.
29 Articles
29 Articles
American Income Falls as Inflation Increases, U.S. Census Bureau Says - The Michigan Star
by Brett Rowland Americans are bringing home less money as inflation squeezes family budgets, according to a new report from the U.S. Census Bureau. The U.S. Census Bureau announced Tuesday that real median household income fell in 2022 compared with 2021. Real median household income fell by 2.3% from $76,330 in 2021 to $74,580 in 2022. At the same time, the cost of goods and services is increasing. Between 2021 and 2022, inflation rose 7.8%.…
US Incomes Fall for Third Straight Year As Inflation Rises - Other Media news - Tasnim News Agency
TEHRAN (Tasnim) – Inflation surges outpaced the average pay raises of US workers in 2022 — the third consecutive year under President Joe Biden in which Americans have seen their standard of living take a tumble, according to fresh data from the US Census Bureau.
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