Tax Filers Worry About Stagnant Incomes Despite Economic Optimism

Nearly half of H&R Block tax filers earned between $45,000 and $145,000, with the highest averages being millennials (32) and boomers (62).

Millennials and boomers have worries about inflation impacting income growth, with only half of millennials happy with their pay growth.

Millennials feel financially insecure and are working multiple jobs, while boomers are still working or have side hustles.

The majority of middle-income millennials still rent, while boomers tend to own homes.

67% of middle-class millennials believe their income will increase next year, while 66% of boomers think their situation will stay the same or worsen.