The Federal Reserve Bank of St. Louis just released real median household income data from 2023, and it shows what many of us suspected/knew: families are still struggling. In fact median household income is still slightly lower than 2019 levels. It’s only $600 lower than 2019 levels, which is good, but the median household earned about $10,000 less from 2020-now than if incomes had stayed constant. That looks even worse given we have come to expect upward climbs in real median household income in the United States.
The fact that the data came in and shows that inflation adjusted household incomes are still stagnant shouldn’t be a surprise, as this chart in a recent WSJ article shows how real net worth is stagnant since January 2021.
As I’ve said for a while - many people claiming that the economy is doing great and that those who say otherwise are short-sighted and/or simply don’t realize how good things are. Here is yet another indication that the economics conditions, for many American families, simply aren’t that great.
Here is the short video I made on the new data coming out:
Share this post