US Household Income Rises in 2023, Poverty Rate Shows Mixed Results

Inflation-adjusted median income reached pre-pandemic levels, but disparities in poverty and gender pay persisted.

Real median household income increased by 4% to $80,610 in 2023, the first rise since 2019.
The official poverty rate decreased to 11.1%, while the supplemental poverty rate rose to 12.9%.
Income gains were uneven across racial groups, with white households seeing a 5.4% increase, while Black, Asian, and Hispanic households saw little change.
The gender pay gap widened as men's income grew at a faster rate than women's, reversing a two-decade trend.
The data reflects strong job growth and easing inflation, but many Americans still face high costs for essentials like food, housing, and utilities.