The median inflation-adjusted household income rose 4% in 2023 to $80,610, rebounding to near its 2019 level and restoring purchasing power for many Americans.
Though the poverty rate decreased to 11.1% from 11.5% in 2022, women's earnings relative to men's declined for the first time in over two decades.
According to Liana Fox of the Census Bureau, the rise in median income signifies a return to pre-COVID financial conditions, reflecting a significant recovery for households.
Economic disparities continue, as while overall median earnings improved, the widening gender income gap highlights persistent challenges in achieving true equality.
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