While the typical American household saw a modest rise in their earnings to $74,580 last year, that figure barely scratches the surface of the vast and often unequal economic landscape shaping our lives today.
Key Takeaways
- The median household income in the United States in 2022 was $74,580, marking a 2.3% increase from 2021 after inflation adjustment.
- In 2022, the mean household income in the US was $106,270, compared to the median of $74,580, highlighting income skewness.
- US per capita personal income reached $59,384 in 2022, up 5.5% nominally from the previous year.
- Global median income per adult was $3,116 in 2021 PPP terms, equivalent to $10,000 per household.
- World average income per capita was $12,690 nominal in 2022.
- Global Gini coefficient for income was estimated at 0.63 in 2022.
- The US Gini coefficient for household income was 0.41 in 2021, rising to 0.485 post-tax in some measures for 2022.
- Global income inequality measured by Gini fell from 0.70 in 2003 to 0.63 in 2022.
- Top 1% income share in the US was 20.1% in 2022.
- US median household income for men full-time workers was $61,200 in 2022.
- US women full-time median earnings were $50,983 in 2022.
- Median income for US households headed by under 25 was $54,010 in 2022.
- Median household income in the United States in 2019 was $68,700, rising to $74,580 by 2022.
- Real median household income grew 37% from $54,200 in 2000 to $74,580 in 2022 US.
- US per capita income increased from $40,000 in 2010 to $59,384 in 2022 nominal.
US incomes grew in 2022, but inequality remains significant both nationally and globally.
Demographic Income
- US median household income for men full-time workers was $61,200 in 2022.
- US women full-time median earnings were $50,983 in 2022.
- Median income for US households headed by under 25 was $54,010 in 2022.
- US 25-44 age group median household income was $90,131 in 2022.
- Households aged 45-54 in US had median $97,251 income in 2022.
- US 55-64 household median income was $79,382 in 2022.
- Over 65 US households median income $50,290 in 2022.
- Black alone US household median $52,860 in 2022.
- Non-Hispanic white US median household $77,999 in 2022.
- Asian US household median $100,572 in 2022.
- Hispanic US household median $62,800 in 2022.
- US college graduates median personal income $68,000 in 2022 vs $40,000 high school.
- No high school diploma US median earnings $32,000 in 2022.
- US married couple households median $103,870 in 2022.
- Female householder no spouse median $49,090 US 2022.
- Male householder no spouse median $67,100 US 2022.
- Urban US household median $78,400 vs rural $60,200 in 2022.
- Northeast US region median household $84,500 in 2022.
- Midwest US median $74,200 household income 2022.
- South US median household $67,900 in 2022.
- West US median household $82,200 in 2022.
- US native-born median earnings $52,000 vs foreign-born $48,000 in 2022.
- STEM occupations US median wage $95,420 in 2022.
- Service occupations US median $35,000 annual in 2022.
- US veterans median household income $82,000 vs non-vets $74,000 in 2022.
- Disabled US workers median earnings $45,000 vs $55,000 non-disabled 2022.
- US single mother households median $42,000 in 2022.
- Median weekly earnings for US bachelor's degree holders $1,493 in Q4 2022.
- US 20-24 year olds median income $35,200 in 2022.
- 65+ US median personal income $28,000 in 2022.
- US Northeast Black median household $65,000 vs West $60,000 in 2022.
Demographic Income Interpretation
The American economic ladder is a fickle contraption: your ascent depends heavily on which rung you start on, whether you're holding a diploma or a partner, and if you're wise enough to pick the right career, region, and demographic before you're even born.
Global Income
- Global median income per adult was $3,116 in 2021 PPP terms, equivalent to $10,000 per household.
- World average income per capita was $12,690 nominal in 2022.
- Global Gini coefficient for income was estimated at 0.63 in 2022.
- Top 1% global income share was 19.4% in 2022.
- Bottom 50% global income share was 8.5% in 2022.
- Average income in high-income countries was $47,800 PPP per capita in 2022.
- Low-income countries average per capita income was $1,080 in 2022.
- Global household income median was $9,733 PPP in 2018 data updated to 2022 trends.
- China’s average income per capita reached $12,720 nominal in 2022.
- India’s per capita income was $2,411 nominal in 2022.
- EU average gross disposable household income per capita was €20,500 in 2022.
- Brazil median monthly income per capita was BRL 1,177 ($220 USD) in 2022.
- South Africa average annual income was $6,700 in 2022.
- Nigeria per capita income stood at $2,126 nominal in 2022.
- Japan median household income was ¥4.8 million ($35,000 USD) in 2022.
- Germany average gross income per employee was €49,260 in 2022.
- UK median household disposable income was £32,300 in FYE 2022.
- Australia average weekly household income was AUD 2,195 ($1,450 USD) in 2022.
- Global remittances to low- and middle-income countries reached $626 billion in 2022.
- World PPP GDP per capita average was $18,700 in 2022.
- Upper-middle-income countries average income per capita $5,433 nominal 2022.
- Global income growth was 3.1% in 2022 PPP terms.
- Russia average monthly wage was RUB 73,709 ($970 USD) in 2022.
- Mexico median monthly income was MXN 8,426 ($450 USD) in 2022.
- Indonesia average annual income per capita $4,582 in 2022.
- Global top 10% income share was 52% in 2022.
- Bottom 10% global income share was 2.2% in 2022.
- Canada median after-tax income for households was CAD 70,000 in 2021 updated 2022.
- France median disposable income per consumption unit was €23,072 in 2022.
- Global extreme poverty line income threshold is $2.15 PPP per day in 2022.
Global Income Interpretation
While the world’s economic pie is growing, the guest list for the feast remains exclusive, with the top 1% savoring nearly 20% of the servings while half the table splits a single modest slice.
Historical Trends
- Median household income in the United States in 2019 was $68,700, rising to $74,580 by 2022.
- Real median household income grew 37% from $54,200 in 2000 to $74,580 in 2022 US.
- US per capita income increased from $40,000 in 2010 to $59,384 in 2022 nominal.
- Global per capita GDP rose from $10,400 in 2000 to $12,690 in 2022 nominal.
- US Gini coefficient stable around 0.41 since 2010 to 2022.
- Top 1% US income share rose from 10% in 1980 to 20.1% in 2022.
- Median weekly earnings US men from $1,000 in 2010 to $1,213 in 2022.
- Women US median weekly earnings from $800 in 2010 to $1,018 in 2022.
- Household income bottom quintile US up 15% real from 2000-2022.
- Top quintile US household income up 25% real 2000-2022.
- Global poverty rate fell from 36% in 1990 to 9% at $2.15 line in 2022.
- US real wages stagnant 2000-2022 for bottom 50% adjusted for inflation.
- Average hourly earnings US private nonfarm from $23.50 in 2010 to $33.80 in 2023.
- China per capita income from $1,000 in 2000 to $12,720 in 2022.
- EU disposable income per capita up 20% real 2010-2022.
- UK median household income from £27,300 in 2010 to £32,300 in 2022 real terms.
- US college premium earnings gap widened from 60% in 1980 to 80% in 2022.
- Black-white income gap US narrowed from 60% ratio in 2000 to 68% in 2022.
- Gender pay gap US narrowed from 23% in 2000 to 18% in 2022.
- Global Gini declined 5 points from 1988-2022 due to Asia growth.
- US personal income doubled nominally from $11 trillion 2000 to $22 trillion 2022.
- Labor share US GDP from 64% 2000 to 59% 2022.
- Remittances global from $128B in 2000 to $626B in 2022 to low-income countries.
- India per capita from $450 to $2,411 nominal 2000-2022.
- OECD average income inequality Gini stable at 0.31 2010-2022.
- US median age 25-34 income up 10% real 2010-2022.
- Over 65 US income up 50% real from 2000-2022 due to Social Security.
- Brazil Gini from 0.59 in 2001 to 0.52 in 2022.
- Australia household median from AUD 1,800 weekly 2010 to 2,195 2022.
- Japan household income declined from ¥5.5M 2000 to ¥4.8M 2022 adjusted.
- Global middle class income share grew from 20% to 35% population 2000-2022.
Historical Trends Interpretation
The American middle class has been running uphill on a treadmill that's slowly increasing its speed, while watching the top 1% comfortably ascend in a glass elevator, a global race where many nations are catching up but the finish line keeps getting wealthier and further apart.
Income Inequality
- The US Gini coefficient for household income was 0.41 in 2021, rising to 0.485 post-tax in some measures for 2022.
- Global income inequality measured by Gini fell from 0.70 in 2003 to 0.63 in 2022.
- Top 1% income share in the US was 20.1% in 2022.
- The Palma ratio for US income was 1.98 in 2022, indicating top 10% earn nearly twice bottom 40%.
- South Africa has the world's highest Gini at 0.63 for income in 2022.
- Brazil's Gini coefficient improved to 0.52 in 2022 from 0.54.
- Income share held by lowest 20% in OECD countries averaged 7.5% in 2021-2022.
- Top 10% income share in Europe averaged 34% in 2022.
- US 90/10 income decile ratio was 16.7 in 2022.
- Global top 1% captured 22% of income growth since 1980 through 2022.
- Female-to-male median earnings ratio in US was 0.82 in 2022.
- Black households in US had median income 59% of white non-Hispanic in 2022.
- Hispanic US households median income was $62,800 vs $77,999 for Asian in 2022.
- Theil index for US income inequality was 0.42 in 2022.
- India's Gini coefficient was 0.35 but top 1% share 22.6% in 2022.
- China's Gini peaked at 0.49 in 2008 but fell to 0.38 in 2022 estimates.
- Ratio of top 20% to bottom 20% income in US was 12.6 in 2022.
- OECD average Gini after taxes/transfers was 0.31 in 2022.
- Russia's Gini was 0.37 in 2022, with top 10% share 30%.
- Palma ratio globally was 2.1 in 2022.
- US P90/P10 ratio increased to 9.2 in 2022 from 8.5 in 2019.
- Bottom 50% US income share was 12.9% in 2022.
- Top 0.1% US income share was 8.2% in 2022.
- Gender pay gap in EU was 12.7% unadjusted in 2022.
- Mexico Gini highest in OECD at 0.45 in 2022.
- Global interpersonal inequality accounts for 65% of total inequality in 2022.
Income Inequality Interpretation
While the world's rich and poor are slowly inching closer together, America seems to be sprinting in the opposite direction, with its top tier vacuuming up growth and its tax system doing little to catch the crumbs.
US National Income
- The median household income in the United States in 2022 was $74,580, marking a 2.3% increase from 2021 after inflation adjustment.
- In 2022, the mean household income in the US was $106,270, compared to the median of $74,580, highlighting income skewness.
- US per capita personal income reached $59,384 in 2022, up 5.5% nominally from the previous year.
- Real disposable personal income per capita in the US grew by 1.2% in 2023 to approximately $47,500.
- The national income by type in the US for 2022 showed compensation of employees at $12.1 trillion.
- Proprietors' income in the US totaled $1.9 trillion in 2022, contributing 8.3% to national income.
- Rental income of persons in the US was $848 billion in 2022, up 10% from 2021.
- Corporate profits with inventory valuation adjustment reached $2.8 trillion in the US in 2022.
- The US personal income increased by 6.5% nominally in 2022 to $22.0 trillion.
- Wage and salary disbursements in the US hit $11.2 trillion in 2022.
- Supplements to wages and salaries in the US were $2.0 trillion in 2022.
- Personal interest income in the US rose to $2.3 trillion in 2022.
- Personal dividend income in the US was $1.7 trillion in 2022.
- Personal current transfer receipts in the US totaled $4.4 trillion in 2022.
- The US national income excluding transfers was $20.1 trillion in 2022.
- Real median personal income for full-time workers in the US was $59,540 in 2022.
- The poverty threshold for a family of four in the US was $27,750 in 2022.
- US household income Gini coefficient was 0.485 in 2022.
- Quintile 1 US household income share was 2.9% in 2022.
- Top 5% US household threshold was $252,840 in 2022.
- US median income for unrelated individuals was $41,463 in 2022.
- Average weekly earnings for private sector production workers in the US were $1,117 in 2023.
- US labor share of income was 58.9% in 2022.
- National income per capita in the US PPP terms was $76,390 in 2022.
- Disposable personal income in the US was $18.8 trillion in 2022.
- US personal saving rate was 3.8% in 2022 average.
- Employer contributions for employee pension and insurance funds were $1.3 trillion in 2022 US.
- US personal current taxes totaled $2.8 trillion in 2022.
- Net domestic income in the US was $20.9 trillion in 2022.
- Consumption of fixed capital in US national income accounts was $3.5 trillion in 2022.
US National Income Interpretation
The American economic story in 2022 was one where the average paycheck comfortably outpaced inflation, corporate coffers swelled to $2.8 trillion, and the top 5% of households started at $252,840, yet the typical household's real progress felt like a cautious 2.3% shuffle while the savings rate whispered a nervous 3.8%.
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