Current Events > U.S. Household Incomes Fall for Third Straight Year

(+) Yeah! (+)

Surging inflation gobbled up household income gains last year, making 2022 the third straight year in which Americans saw their living standards eroded by rising prices and pandemic disruptions.

Americans inflation-adjusted median household income fell to $74,580 in 2022, declining 2.3% from the 2021 estimate of $76,330, the Census Bureau said Tuesday. The amount has dropped 4.7% since its peak in 2019.

The figures add to the picture of the economic challenges facing households since Covid-19 hit in early 2020. Inflation hit a four decade high last summer as the pandemic upended supply chains and the Ukraine war drove up energy prices.

This year could be different. Earnings and inflation trends have improved as a strong labor market and cooling price increases boosted household purchasing power, said Bill Adams, chief economist at Comerica Bank.

Shifting into the present and into the future, the prospects are better for wages to make up for some of the ground lost during the last couple of years, Adams said.

Wage growth for the typical worker outstripped inflation starting in December 2022, with inflation-adjusted wages rising about 3% in July, according to data from the Atlanta Fed Wage Tracker and the Labor Department.

https://www.wsj.com/economy/u-s-incomes-fall-for-third-straight-year-7b8293c6?mod=djemRTE_h

More blood on Obama's thanks

A worldwide pandemic will do that, yeah

Wage growth for some, tipping growth for others.

Yes, corporate greed is out of control.

This is just the putin price hike. We are at war with fascism we need to sacrifice a little to make the world a better place. No big deal things will return to normal once we win.

Yet the wealthy are wealthier than they've ever been. The trickle down was always a lie.

I've become more "wealthy" for the 3rd straight year

This year could be different. Earnings and inflation trends have improved as a strong labor market and cooling price increases boosted household purchasing power, said Bill Adams, chief economist at Comerica Bank.

Shifting into the present and into the future, the prospects are better for wages to make up for some of the ground lost during the last couple of years, Adams said.

Wage growth for the typical worker outstripped inflation starting in December 2022, with inflation-adjusted wages rising about 3% in July, according to data from the Atlanta Fed Wage Tracker and the Labor Department.

Thanks, Biden!

ai123 posted...

This year could be different. Earnings and inflation trends have improved as a strong labor market and cooling price increases boosted household purchasing power, said Bill Adams, chief economist at Comerica Bank.

Shifting into the present and into the future, the prospects are better for wages to make up for some of the ground lost during the last couple of years, Adams said.

Wage growth for the typical worker outstripped inflation starting in December 2022, with inflation-adjusted wages rising about 3% in July, according to data from the Atlanta Fed Wage Tracker and the Labor Department.

Thanks, Biden!

Hey man, that's capitalism.

ai123 posted...

This year could be different. Earnings and inflation trends have improved as a strong labor market and cooling price increases boosted household purchasing power, said Bill Adams, chief economist at Comerica Bank.

Shifting into the present and into the future, the prospects are better for wages to make up for some of the ground lost during the last couple of years, Adams said.

Wage growth for the typical worker outstripped inflation starting in December 2022, with inflation-adjusted wages rising about 3% in July, according to data from the Atlanta Fed Wage Tracker and the Labor Department.

Thanks, Biden!

Yeah, maybe starting to not get OUT of the hole Trump and the republicans 300 Sparta kicked us into, but at least maybe Biden can get us to stop falling down the pit so much.

Sadly, this is the only issue some people will vote on.

ai123 posted...

This year could be different. Earnings and inflation trends have improved as a strong labor market and cooling price increases boosted household purchasing power, said Bill Adams, chief economist at Comerica Bank.

Shifting into the present and into the future, the prospects are better for wages to make up for some of the ground lost during the last couple of years, Adams said.

Wage growth for the typical worker outstripped inflation starting in December 2022, with inflation-adjusted wages rising about 3% in July, according to data from the Atlanta Fed Wage Tracker and the Labor Department.

Thanks, Biden!

Facts DO keep hurting, TC!

Oh, just saw who TC is

IMadepooh4U, a guy banned for supporting 1/6 on the old maga board. Not even an American, but a huge supporter of Trump for some reason

BunkerBoy posted...

Oh, just saw who TC is

IMadepooh4U, a guy banned for supporting 1/6 on the old maga board. Not even an American, but a huge supporter of Trump for some reason

Yep.

The Federal Reserve has harmed Americans more than all (officially recognized; since The Fed isn't considered one) terrorist organizations in the world combined.
And Republicans as well, for pushing Reaganomics for the past 50 years.

It is entertaining/annoying when I see Republicans blame Biden and unironically state, "half the dollars in circulation were printed in 2020!"
Like... bitch, who was president in 2020?
Republicans: *shocked Pikachu face*

What TC wants from this is for people to say, "Oh, that's terrible... we must turn to fascism to fix it all!" What he doesn't want is for someone to bring this up.

https://gamefaqs.gamespot.com/a/user_image/4/1/2/AAdkcxAADvHU.jpg

blame GOP hamstringing the country every step of the way