Midwest Leads the U.S. Economy with Highest Income Rise in 2023
Examining Midwest Income Growth
The latest report from the U.S. Census Bureau illustrates that the Midwest has achieved the highest increase in median household income, recording a 6.6 percent rise to $81,020. This puts the Midwest ahead of all other U.S. regions, highlighting its emerging economic resilience.
Comparative Regional Income Analysis
- Southern region's income increased by 3.3 percent, reaching $73,280.
- Northeast region saw a 3.2 percent rise to $86,250.
- The Western region experienced no income growth.
Breaking Down by Household Types
Family households with married couples topped the income charts at $119,400, while single men's households saw a significant increase, climbing by 7 percent to $81,890. Conversely, single women's households reported the lowest median income.
Income Inequality Insights
Despite an overall increase in income, the Gini index indicates no significant change in income inequality across the regions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.