U.S. households median income back to ’19 levels
INFLATION ADJUSTED
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 percent, from 11.5 percent in 2022.
And 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 2023.
The latest data came Tuesday in an annual report from the Census Bureau, which said the median household income, adjusted for inflation, rose 4 percent to $80,610 in 2023, up from $77,450 in 2022.
The proportion of Americans living in poverty also fell slightly last year, to 11.1 percent, from 11.5 percent in 2022.
And 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 2023.
The latest data came Tuesday in an annual report from the Census Bureau, which said the median household income, adjusted for inflation, rose 4 percent to $80,610 in 2023, up from $77,450 in 2022.