Household income booms, proving economic recovery under Biden-Harris
The U.S. Census Bureau reported on Tuesday that median income for U.S. households increased in 2023, returning to pre-pandemic levels. The agency said that the median income level is now at $80,610, up 4% from 2022 for the first increase since 2019.
The rise in income levels means that families have regained their purchasing power despite price increases due to inflation.
The announcement is another data point demonstrating the economic recovery that has taken place since the Biden/Harris administration took office in early 2021 and implemented its “Investing in America” agenda.