Median income rose to $80,610 in 2023

(CNN) —& Americans’ incomes have finally returned to their pre-pandemic peak.Median household income rose to $80,610 in 2023, essentially the same as it was in 2019, the Census Bureau reported Tuesday.The typical household’s income rose 4% from 2022, driven primarily by an increase in workers’ earnings. This was the first statistically significant annual increase in inflation-adjusted median household income since 2019, the Census Bureau said.“This is the firmest evidence yet that income growth outpaced inflation for ordinary households in 2023,” said Arloc Sherman, vice president for data analysis and research at the left-leaning Center on Budget and Policy Priorities.Americans’ finances are a key talking point in this year’s presidential election. Former President Donald Trump argues that people were better off in his first term and have suffered from the spike in prices in recent years. Vice President Kamala Harris has stressed that she will focus on strengthening the middle class and has released proposals that aim to reduce people’s cost of living.There were widespread gains across the income ladder, though income inequality did not change significantly between 2022 and 2023.However, the inflation-adjusted median earnings for men who worked full time, year-round increased 3% – twice the rate for women. That...