The U.S. poverty rate showed little change in 2024, the Census Bureau reported Tuesday. The supplemental poverty measure, which accounts for government aid and household costs, stood at 12.9%, virtually unchanged from 2023. The official poverty rate dipped slightly to 10.6%, representing 35.9 million Americans living in poverty.
Median household income was $83,730 in 2024, also flat compared with the prior year. Officials said incomes generally kept pace with inflation but did not grow significantly outside of top earners. Families at the 90th percentile saw incomes rise 4.2%, while gains were stagnant for those at the middle and bottom.
The income for the typical U.S. household barely rose last year and essentially matched its 2019 peak, the Census Bureau said Tuesday, as stubbornly high inflation offset wage gains. https://t.co/7rSatwbY7l
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Racial disparities persisted. Median income grew for Asian and Hispanic households but fell 3.3% for Black households. The female-to-male earnings ratio slipped for the second straight year to 80.9%. Meanwhile, 27.1 million Americans, or 8% of the population, lacked health insurance at some point in 2024.
