Incomes Fall in 17 States as High Inflation Erodes Paychecks
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Incomes fell in 17 states in 2022, with the biggest drops in the Midwest and Northeast.
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High inflation is chewing into paychecks even as pandemic benefits have ended.
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U.S. median household income declined 2.3% in 2022 to $74,580.
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The poverty rate for seniors surged to 14.1% in 2022, up over 3 percentage points.
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Consumer sentiment remains low despite signs of a strong economy like low unemployment.
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