Census Data Shows Inflation Wiped Out U.S. Income Gains in 2024
By
JumpCrisscross
Crackles when you bite it. Shows the baker did the work.
Summary
New Census Bureau data reveals that inflation erased wage gains for most Americans in 2024, leaving household incomes largely unchanged except for the wealthiest households. The report shows that average households haven't recovered economically since the COVID-19 pandemic, with high-income households faring better while women lost ground to men economically.
Key quotes
· 4 pulledInflation ate into Americans' wage gains last year, leaving household incomes little changed beyond the richest households
The data also show how average households haven't gained ground economically since the Covid-19 pandemic hit
High-income households fared better than others, while women lost ground to men
Inflation-adjusted median household income remained stagnant
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