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 latest data came Tuesday in an annual report from the Census Bureau, which said the median household income, adjusted for inflation, rose 4% to $80,610 in 2023, up from $77,450 in 2022. It was the first increase since 2019, and is essentially unchanged from that year’s figure of $81,210, officials said. (The median income figure is the point at which half the population is above and half below and is less distorted by extreme incomes than the average.)
It’s not even a good metric to try and say income is getting better
I do agree its not the greatest metric for a variety of reasons but its still indicative of improvements to the economy. If the opposite was happening it would mean things are getting worse instead of better.
The data showed that while the typical American household regained its 2019 purchasing power in 2023, it essentially experienced no rise in living standards over that time.
No it’s saying some have.
It’s not even a good metric to try and say income is getting better
Some have what? I’m not following what you mean.
I do agree its not the greatest metric for a variety of reasons but its still indicative of improvements to the economy. If the opposite was happening it would mean things are getting worse instead of better.
Yes, we are finally back to 2019 levels. I still don’t understand what point you are making.
The point is its a meaningless stat to try an make it look like it’s getting better for workers.