Income and Poverty in the United States: 2020

Income and Poverty in the United States: 2020

Live News Conference

September 14, 2021

Income and Poverty Estimates

Trudi J. Renwick Assistant Division Chief Economic Characteristics

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What is Money Income?

INCLUDES: ? Wages and earnings ? Social Security ? Unemployment ? Retirement ? Interest dividends ? Public Assistance

DOES NOT INCLUDE: ? Taxes Paid ? Tax Credits ? Stimulus payments ? Noncash assistance

(SNAP, Medicaid, etc.)

Note: Information on money income collected in the CPS ASEC is available in Appendix A "How Income Is Measured" in

.

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Highlights: Income, earnings and workers

? Real median household income decreased 2.9 percent to $67,500 between 2019 and 2020.

? Between 2019 and 2020, the total number of workers with earnings decreased by about 3.0 million. The number of those who worked full-time, year-round decreased by approximately 13.7 million.

? The real median earnings of all workers decreased 1.2 percent, while the real median earnings of those who worked full-time, year-round increased 6.9 percent between 2019 and 2020.

Notes: Income rounded to nearest $100. Percent changes calculated with unrounded estimates. Information on confidentiality protection, sampling error, nonsampling error, and definitions, is available at .

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Source: U.S. Census Bureau, Current Population Survey, 2020 and 2021 Annual Social and Economic Supplements (CPS ASEC).

Real Median Household Income: 1967 to 2020

Income in thousands (2020 CPI-U-RS adjusted dollars) 90

Recession

80

70

$67,500

60

50

$48,500

40

30

20

10

0 1967

1975

1980

1985

1990

1995

2000

2005

2010

2015

2020

Notes: Households as of March of the following year. The data for 2017 and beyond reflect the implementation of an updated processing system.

The data for 2013 and beyond reflect the implementation of the redesigned income questions. Income rounded to nearest $100.

Source: U.S. Census Bureau, Current Population Survey, 1968 to 2021 Annual Social and Economic Supplements (CPS ASEC).

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