Sep 12, 2023
Americans are grappling with a third consecutive year of falling incomes, due to surging inflation. Median household incomes have slumped to $74,580 in 2022, down 2.3 from the 2021 estimate of $76,330, representing a 4.7 percent drop since their peak in 2019. The Census Bureau's latest report reveals the ongoing economic challenges faced by American households since the onset of the Covid-19 pandemic, exacerbated by a four-decade high in inflation last summer due to supply chain disruptions and energy price spikes driven by the Ukraine conflict. However, there is hope on the horizon. Experts are predicting things may start to look different in the upcoming year, as reported by the Wall Street Journal. Inflation has taken a toll on household incomes, falling to $74,580 in 2022 - down 2.3 percent from 2021 - marking the third consecutive year of decline The drop in incomes represents a 4.7 percent decline since their peak in 2019 The Census Bureau's latest report re
