WASHINGTON, D.C. – The U.S. Census Bureau released its “Income in the United States: 2023” report, revealing the first annual increase in real median household income since 2019. The report shows that while overall income rose, significant disparities remain among racial and ethnic groups.
Overall Income Increase
The report indicates that real median household income in the United States increased to $80,610 in 2023, marking the first rise since before the COVID-19 pandemic. This uptick represents a positive shift in the economic landscape for many American households.
Racial and Ethnic Disparities
Despite the overall increase, the report highlights persistent income gaps among different racial and ethnic groups:
- Non-Hispanic White households saw the only statistically significant increase, with median income rising 5.7% to $89,050.
- Hispanic households ($65,540) and Black households ($56,490) saw no statistical change from 2022, remaining the lowest among all groups.
- Asian households maintained the highest median income at $112,800, though unchanged from the previous year.
Changing Income Ratios
The report also provides insight into the changing dynamics of income disparities:
- The income ratio of Asian to non-Hispanic White households decreased from 1.34 in 2022 to 1.27 in 2023, slightly narrowing the gap between these groups.
- The Hispanic to non-Hispanic White income ratio fell from 0.77 to 0.74, indicating a widening disparity.
- The Black to non-Hispanic White income ratio (0.63 in 2023) showed no significant change from 2022 (0.65).
“These findings underscore the complex nature of economic progress in the United States,” said a Census Bureau spokesperson. “While we see overall growth, it’s clear that not all groups are experiencing economic gains equally.”
The report includes additional data on how median household income varied by factors such as age, nativity, and educational attainment, providing a comprehensive view of the economic landscape in 2023.
As policymakers and economists analyze these findings, the data will likely inform discussions on economic policy and efforts to address persistent income disparities across different demographic groups in the United States.
