INCOME INCREASE

For the first time since 2019, median inflation-adjusted household income rose, to $80,610 in 2023, up from 2022’s $77,540. This brings median income almost back to the 2019 peak of $81,210. The rise was the result of a tight labor market and easing inflation. However, the female-to-male earnings ratio declined from 84% to 82.7%, the first meaningful decrease in two decades. Men saw wages rise 3%, vs. 1.5% for women.