Everyone has been talking about inflation for the year or so, and with that on Americans’ minds, the question of income growth is also on the mind.
According to a series us studies analyzed by CNBC.com, income growth in the U.S. was mainly flat in 2021. That’s not good news, but the better news is that a few states made significant gains in income growth, as reported in the most recent Census Bureau data.
According to the report, median household income went up just a little bit since 2019, moving from $69,639 to $69,717, according to 2021 inflation-adjusted dollars. It’s worth noting that information from 2020 was not part of this report, largely because of the disruption caused by the pandemic.
A whopping 27 states and D.C. either declined or didn’t change in terms of income growth since 2019. The positive light is that in 25 states and territories, incomes are increasing.
These 10 U.S. states had the highest percentage gains:
New Hampshire: 7.1%
South Dakota: 4.8%
North Carolina: 2%
For the full report, visit CNBC.com.