(Washington, DC) — Incomes in the U.S. went up last year according to new federal data.
The Census Bureau released figures Tuesday that showed household incomes rose four percent from 2022 to 2023. Adjusted for inflation, the average household income went up from about 77-thousand dollars to around 80-thousand dollars last year. It was the first overall rise in U.S. incomes since the start of the COVID pandemic.
“The Wall Street Journal” credits the rise to easing inflation and a strong job market.