Incomes Fall in 17 States as High Inflation Erodes Paychecks

Incomes fell in 17 states in 2022, with the biggest drops in the Midwest and Northeast.

High inflation is chewing into paychecks even as pandemic benefits have ended.

U.S. median household income declined 2.3% in 2022 to $74,580.

The poverty rate for seniors surged to 14.1% in 2022, up over 3 percentage points.

Consumer sentiment remains low despite signs of a strong economy like low unemployment.