The inflation-adjusted median household income rose 4% to $80,610 in 2023, essentially returning to pre-COVID levels, marking a key recovery after pandemic-related declines.
Liana Fox from the Census Bureau noted, "We are back to that pre-COVID peak that we experienced," highlighting the recovery of household income post-pandemic.
Despite a rebound in median income, economists suggest that the standard of living remains stagnant for many Americans, as evidenced by the unchanged living standards since 2019.
While the proportion of Americans in poverty decreased slightly, the widening ratio of women's earnings to men's is a concern that contrasts with overall income recovery.
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