Washington Examiner
Census reports decline in real median household income in 2022.
Median Household Income Falls for Third Consecutive Year
The Census Bureau reported on Tuesday that median household income fell by 2.3% in 2022 on an inflation-adjusted basis. This marks the third consecutive year of declining real median incomes, according to the annual report derived from the Census’s Current Population Survey Annual Social and Economic Supplement.
In 2019, just before the pandemic hit, median household incomes reached a peak of $78,250. However, in 2022, amidst soaring inflation, incomes dropped to $74,580. This decline has significantly impacted household purchasing power.
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Read More From Original Article Here: Median household income fell in 2022, adjusted for inflation, Census says
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