EPI economists react to 2024 Census data on income and poverty
Below, EPI economists offer their insights on today’s release of U.S. Census Bureau data for 2024 on annual earnings, income, poverty, and health insurance.
From EPI senior economist Elise Gould:
The latest data out from #Census today show median earnings and median household incomes kept pace with inflation in 2024. Men’s earnings rose 3.7% increasing the gender wage gap back to 2019 levels. Income grew at the top, but not the middle or bottom, reversing recent trends.
#EconSky #NumbersDay— Elise Gould (@elisegould.bsky.social) Sep 9, 2025 at 9:43 AM
While median earnings and incomes held strong in 2024, it’s important to remember that these data do not say anything about 2025. Trump policies—chaotic and high tariffs, mass deportations, attacks on the federal workforce—have already led to a softening labor market and more inflationary pressures.
— Elise Gould (@elisegould.bsky.social) Sep 9, 2025 at 10:01 AM
While changes at the median or 10th percentile were not statistically significant between 2023 and 2024, income grew 1.3% and 2.2% in real terms at the middle and bottom, respectively. However, inequality did rise because the top grew even faster (4.2% at the 90th percentile).
#EconSky #NumbersDay— Elise Gould (@elisegould.bsky.social) Sep 9, 2025 at 10:33 AM
From EPI senior economist Ben Zipperer:
About 8% of people lacked any form of health insurance in 2024. Unfortunately that rate will dramatically increase in the coming years, from 27 million to more than 40 million thanks to Republicans who cut Medicaid and ACA marketplace subsidies
— Ben Zipperer (@benzipperer.org) Sep 9, 2025 at 9:33 AM
From EPI economist Ismael Cid-Martinez:
New Census 2024 income data show a mixed picture for families of color. Asian & Hispanic families saw their median income rise. But Black families experienced a fall. Typical Black & Hispanic households continue to earn just a fraction of their white peers’ income. #EconSky #NumbersDay
— Ismael Cid Martínez (@icidmartinez.bsky.social) Sep 9, 2025 at 10:19 AM
Disparities in income continue to leave families of color with children disproportionately vulnerable to poverty. Black & Hispanic children remain 3 times as likely as their white peers to suffer poverty. #EconSky #NumbersDay
— Ismael Cid Martínez (@icidmartinez.bsky.social) Sep 9, 2025 at 10:19 AM
As we point out in a new report, Trump and Congressional Republicans’ attacks on basic needs programs that keep millions of children out of poverty will continue to expand these inequities – forcing children of color to inherit poverty for generations.
www.epi.org/publication/…— Ismael Cid Martínez (@icidmartinez.bsky.social) Sep 9, 2025 at 10:19 AM
From EPI economist Hilary Wething:
Some big #NumbersDay releases today—Just a reminder that the Census data are incredibly valuable. We get transparent and non-politicized data to make informed decisions about what policies are delivering economic security for working people.
— Hilary Wething (@hilwething.bsky.social) Sep 9, 2025 at 9:25 AM
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