Income, Poverty and Health Insurance Coverage in the United States: 2023 – US Census Bureau
Good news on higher real wages particularly for low-income families. But will it last after the infusion of Covid aid dropped dramatically in the middle of 2023? Not much change in US poverty and inequality measures.
“Income estimates are based on the concept of money income and do not account for the value of in-kind transfers. They are pretax, unless otherwise indicated.
- Real median household income was $80,610 in 2023, a 4.0% increase from the 2022 estimate of $77,540. This is the first statistically significant annual increase in real median household income since 2019.
- Real median household income increased by 5.4% for White households and by 5.7% for non-Hispanic White households between 2022 and 2023. There was no significant change in median incomes for Black, Asian, and Hispanic households.
- Household income rose throughout the income distribution, increasing 6.7% at the 10th percentile and 4.6% at the 90th percentile.
- Income inequality as measured by the Gini index and income percentile ratios was not significantly different between 2022 and 2023.”
Analyzing the Census Bureau’s 2023 Poverty, Income, and Health Insurance Data – CBPP
New Census Data on American Families’ Economic Well-Being – AEI