Published 3 months ago

US 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.

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Channel News Asia

US household incomes fall for third straight year: Census Bureau

WASHINGTON: US inflation-adjusted incomes fell for a third straight year in 2022, but overall income inequality decreased, according to new Census Bureau data. In a positive development, the poverty rate for the Black population declined to 17.1 per cent - its lowest level on record - although it rema

3 months ago·Singapore

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New York Post

US incomes fall for third straight year under Biden admin as more...

Median household income in the US has dropped consistently year over year since 2019 as President Biden's Bidenomics fails to ease the US' financial burden.

3 months ago·New York, United States

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Washington Examiner

Median household income fell in 2022, adjusted for inflation, Census Bureau says

An assortment of potatoes are for sale in the produce section at a Publix Supermarket, Tuesday, Nov. 16, 2021 in North Miami, Fla. First, the good news: There is no shortage of whole turkeys in the U.S. this Thanksgiving. But those turkeys — along with other holiday staples like cranberry sauce and pie filling — could cost more. (AP Photo/Marta Lavandier) Marta Lavandier/AP Median household income fell in 2022, adjusted for inflati…

3 months ago·Washington, United States

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Bloomberg

US Inflation-Adjusted Incomes Fell 2.3% in 2022 From Prior Year

US inflation-adjusted household income fell in 2022 by the most in over a decade, highlighting the toll of a higher cost of living and the expiration of pandemic-era programs.

3 months ago·United States

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Political Wire

U.S. Incomes Fall for Third Straight Year

"Surging inflation gobbled up household income gains last year, making 2022 the third straight year in which Americans saw their living standards eroded by rising prices and pandemic disruptions," the Wall Street Journal reports."Americans’ inflation-adjusted median household income fell to $7

3 months ago·New York, United States

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