(The second average, calculated by multiplying last year’s average by the annual change in wages, is $66,621.80) For fun, the figures below concerning percentages are taken from the data SSA provides but are t
The average net worth for U.S. families is about $1.06 million. The median is $192,700, according to Federal Reserve data. Net worth typically grows as you age, until you stop working.
The Northeast is the most affluent part of the U.S., where the median household income was $75,211. Moreover, this was the only region where a decline in household income was not observed.2Median income decreased 3.2% from 2019-2020 in the Midwest and 2.3% in both the South and the ...
Today the median annual wage for Black workers is approximately 30 percent, or $10,000, lower than that of white workers—a figure with enormous implications for household economic security, consumption, and the ability to build wealth. Black workers make up 12.9 percent...
Note that the state of the U.S. economy is changing with—and because of—demographic changes in American society. On average, according to reports by the U.S. Census Bureau, the American population has grown older.5This aging makes a big difference to the median income because retirees typ...
Before this year, the refundable portion was limited to $1,400 per child and there were other requirements regarding earned income to obtain the refundable portion. There is not an earned income requirement for 2021. For updates and more information, please visit our 2021 Child Tax Credit blog...
Is productivity accelerating or slowing down? The past 25 years or so have been amajor success storyfor global productivity. During this period, median economy productivity has jumped sixfold. These gains have been largely driven by China and India: From 1997 to 2022, China’s output increased...
What Is the Earned Income Tax Credit? The earned income tax credit provides a significant tax break for low- and moderate-income households. Geoff WilliamsApril 4, 2025 Use Your FSA Balance Now Make a plan to spend this money before you forfeit it, whether on doctors' visits or ...
"Average income" is a term used by many to describe median income, or how much money the people at the middle of the income scale make per year. Median income is a more accurate picture of middle-earner's income than average income because the number of high earners skews the average in...
Per Capita vs. Median In contrast to per capita measures,mediannumbers, such as those for income, provide an arguably more accurate picture of how much the residents of a particular country or area are likely to earn. Themedian incomeis the income level in the very middle of a list of i...