State of Household Income and Employment in the United States

Shutterstock

By net worth, the United States has been the wealthiest nation in the world for the last 60 years. With its large, diversified economy of tourism, services, banking industries, renewable energy, etc., America has dominated the world’s economic landscape.

But what does this mean for U.S. citizens? The wealth of a nation comes down to household and individual income. Employment is another critical factor. How much are Americans earning?

Median vs. Average Household Income in the US

According to the U.S. Census Bureau, by the close of 2022, the median household income was $74,580, while the average U.S. household income was $105,555. The disparity between the two numbers is due to how they have been extrapolated.