4 ms·
Do you know how they calculate median real income? By taking into account inflation. "Real median household income fell by 2.3% from $76,330 in 2021 to $74,580
by spullara 3y ago
Do you know how they calculate median real income? By taking into account inflation.
"Real median household income fell by 2.3% from $76,330 in 2021 to $74,580 in 2022. Income estimates are expressed in real or 2022 dollars to reflect changes in the cost of living. Between 2021 and 2022, inflation rose 7.8%; this is the largest annual increase in the cost-of-living adjustment since 1981."
- ethbr1 3y agoBoth pre- and post-tax sides are inflation-adjusted to 2022 using C-CPI-U.