U.S. Household Income and Poverty Rates in 2023
In 2023, the inflation-adjusted median household income in the U.S. increased to $80,610, while the supplemental poverty rate rose to 12.9%. The official poverty rate decreased slightly to 11.1% during the same period.
| Score | Value |
|---|---|
Scale | 8 |
Novelty | 5 |
Positivity | 4 |
Reliability | 9 |
Actionability | 3 |
Society | 7 |
Journalism | 3 |
Highlights
- The inflation-adjusted median household income in the U.S. rose to $80,610 in 2023, a 4% increase from 2022.
- The poverty rate, as measured by the supplemental poverty measure, increased to 12.9% in 2023 from 12.4% in 2022.
- The official poverty rate fell slightly to 11.1% in 2023 from 11.5% in 2022.
- The unemployment rate was 3.4% in January 2023, the lowest level in over 50 years.
- Child poverty rose to 13.7% in 2023 from 12.4% in 2022.
Perspectives
- Some economists view the increase in median household income as evidence of a strong recovery from the economic crises caused by the pandemic, attributing it to effective policy choices and job growth. [6][18][19]
- Despite the increase in household income, there are concerns about the rising poverty rates, particularly among children, indicating that many families are still struggling to meet basic needs. [2][4][11]