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Income rose 4% in 2023

In addition to new poverty figures, the Census Bureau also released new annual income numbers today. Real household income was up 4.0% in 2023:

Household income was up for all races and all income groups. It increased the most for the poorest 10% of workers.

Note that this is "money income" as defined by the Census Bureau. It doesn't include either taxes or government benefits.

1 thought on “Income rose 4% in 2023

  1. cmayo

    Meanwhile, housing costs continue to increase faster than inflation with one of your very own charts being the top Google image search result for "median rent vs inflation": https://www.motherjones.com/kevin-drum/2019/04/raw-data-inflation-of-rental-housing/

    Yeah it's from 2 years ago but even if rent vs. inflation is flat since then (it's not), ground would need to be made up. Source on rent prices continuing to shoot up faster than inflation:

    https://mma.prnewswire.com/media/2105621/rent_prices_vs_inflation.jpg?p=publish

    https://www.prnewswire.com/news-releases/rent-prices-have-outpaced-income-growth-in-46-of-the-50-most-populous-us-metros-since-2009-301854838.html

    Raw data for them was from Census, FRED, and CPI.

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