Inflation in 2024 left the average American with little growth in their income, according to an analysis of US Census Bureau data by the Wall Street Journal.
The data showed that Americans have made little to no economic progress since the start of the COVID-19 pandemic. Prices for most goods have continued climbing, while incomes have failed to keep pace. In 2024, the median household income was $83,730, virtually unchanged from 2023 and only slightly above 2019 levels, the year before the pandemic began.
While everyone is focused on jobs revisions, Census has released its income and poverty report for 2024.
— Chris Rugaber (@ChrisRugaber) September 9, 2025
Last year the top 10% saw solid income gains, not much for middle- and lower-income households: pic.twitter.com/r56GEqeryu
🆕 Real median household income was $83,730 in 2024, not statistically different from the 2023 estimate of $82,690.
— U.S. Census Bureau (@uscensusbureau) September 9, 2025
More at https://t.co/AtjLFNqYUq #CensusData #Income pic.twitter.com/x5t2RhIpRU
High-income households saw a 4.2 percent increase in income, while middle-income households experienced no real growth or decline. Incomes fell for Black Americans but rose for Hispanic and Asian households, with no change for White households. Income gains also diverged by gender: men’s earnings rose 3.7 percent, while women’s remained flat.
The Census data paints a bleak picture for the Biden administration in its final year. Despite White House claims of a strong economy, most Americans have seen little improvement in their standard of living since before the pandemic. Inflation has eaten away at modest income gains, leaving the median household no better off than in 2019. The uneven distribution of growth, benefiting only a few while leaving the majority behind, underscores the administration’s failure to deliver broad-reaching prosperity as it had promised.