CEO pay increased in 2024 and is now 281 times that of the typical worker: New EPI landing page has all the details

After two uncharacteristic years of decline in 2022 and 2023, the pay for chief executive officers (CEOs) of the 350 largest firms in the U.S. increased in 2024. As of the latest data available, realized compensation—which captures what CEOs took home in pay after any stock-based compensation was sold—averaged nearly 23 million dollars in 2024 at the 350 largest publicly traded firms, an increase of 5.9% since 2023.

EPI’s new CEO pay data page details the latest information on CEO pay, the sources of CEO pay, and how CEO pay compares with what typical workers are paid, the stock market, and the pay of other highly paid workers. The new web page also provides historical data on each measure as far back as 1965.Read more

Hispanic workers have shown remarkable resilience in the labor market despite Trump destroying job growth

The Trump administration inherited a strong labor market that delivered historic gains for Hispanic workers. Between 2019 and 2024, prime-age Hispanic workers experienced record-high employment rates while Hispanic workers overall saw their real wages grow faster than in the preceding four decades.

Although job growth began to wane in the second half of 2024, the current administration’s economic mismanagement has led to a significant slowdown in job growth this summer. The most recent jobs report confirmed that the economy actually lost jobs in June 2025, and job growth for August was much weaker than anticipated.

Despite all this chaos and uncertainty, Hispanic workers have managed to hold on to their previous job market gains. This resilience is largely a story about employment growth among Latinas. But there are growing signs that these workers and their families remain vulnerable to economic hardship as the current administration attacks immigrants, basic needs programs, and common-sense economics.

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What’s behind rising unemployment for Black workers?

For the last five years, I’ve given the same answer in response to questions about any one-month increase in the Black unemployment rate. Given the relatively small sample size used to calculate the number each month, we shouldn’t make too much of a single month’s increase but focus on longer-term patterns and see if the upward trend continues over the next few months. Well, as of August 2025, the Black unemployment rate has risen for three consecutive months and now stands at 7.5%. This post details three major conclusions I have drawn from this and supporting data:

  1. There has been a clear deterioration in the labor market for Black workers this year: the unemployment rate is rising and employment is falling.
  2. The decline in Black workers’ employment appears to be concentrated among Black women while Black men’s employment rates appear more stable.
  3. Since January 2025, overall women’s employment has fallen most in professional and business services, manufacturing, and federal government—suggesting likely culprits for the decline in Black women’s employment.

Read more

The widening productivity-pay gap

Below is an abstract of a WorldatWork member-only article at The Journal of Total Rewards. You can learn more about the productivity-pay gap here

This paper focuses on the historical divergence between typical workers’ compensation and economy-wide productivity, and the implications of this divergence for workplace inequality. Commonly referred to as the “pay-productivity gap”, we show that while inflation-adjusted pay and productivity grew in lock step from the end of WWII until the 1970s, productivity has outpaced pay since 1979. We use publicly available data sources to document this gap and discuss key methodological considerations.

We argue that the equal growth in pay and productivity before 1979 and the subsequent fracturing were driven near-entirely by intentional policy decisions. Beginning in 1979, the efforts by employers and capital-owners to undercut the bargaining power of typical workers in labor markets through policies such as deregulation, corporate-led globalization, erosion of the minimum wage, deunionization, macroeconomic policies that tolerated excess unemployment, and tax cuts for high earners led to a divergence in pay and productivity that has yet to be remedied. Not only have these intentional policy decisions created a large pay-productivity gap since 1979, but they have also coincided with a productivity slow-down across the total economy during this time period, resulting in growth that was slower and less equal.

Productivity-Pay Gap

The gap between productivity and a typical worker’s compensation has increased dramatically since 1979: Productivity growth and hourly compensation growth, 1948–2025

Year Productivity Pay
1948q1   100 100
1948q2 101.2 100.8
1948q3 100.8 100.8
1948q4 102.7 103.1
1949q1 102.2 105.4
1949q2 101.3 106.6
1949q3 104.7 109
1949q4 104.7 110.3
1950q1 108.9 111.8
1950q2 110.1 112.4
1950q3 112.1 111.7
1950q4 112.9 112.1
1951q1 111.5 110.2
1951q2 111.6 111.2
1951q3 114.4 113.5
1951q4 114.3 113.7
1952q1 114.3 114.4
1952q2 114.9 115.8
1952q3 115.3 115.8
1952q4 117.5 117.3
1953q1 119.9 119.6
1953q2 120.5 120.6
1953q3 120.2 121.8
1953q4 119.7 122.6
1954q1 120.3 123.7
1954q2 121.8 124.5
1954q3 123.7 125.3
1954q4 126.8 127.8
1955q1 128.8 128.4
1955q2 131.2 130.2
1955q3 131.3 130.6
1955q4 131.8 132.3
1956q1 132.4 134.2
1956q2 132.3 134.5
1956q3 132.3 134.8
1956q4 134.3 135.8
1957q1 135.9 136.4
1957q2 136 137.5
1957q3 136.4 137.9
1957q4 136.5 138.5
1958q1 135 137.5
1958q2 136.3 138
1958q3 139.6 138.8
1958q4 141.9 140
1959q1 143.4 142
1959q2 144.2 143
1959q3 144.5 142.8
1959q4 144.5 143.3
1960q1 148 144.3
1960q2 145.9 145.6
1960q3 146.2 146.2
1960q4 144.9 146.5
1961q1 146.6 147.6
1961q2 151.1 148.4
1961q3 152.8 148.5
1961q4 153.8 149.1
1962q1 155.7 151
1962q2 155.6 151.6
1962q3 157.4 152.3
1962q4 158.9 153.3
1963q1 160.7 154.7
1963q2 161.8 155.8
1963q3 163.8 155.3
1963q4 165.4 157.2
1964q1 167.4 158
1964q2 167 158.6
1964q3 169.6 160.3
1964q4 168.7 160.4
1965q1 171.1 161.6
1965q2 171.4 162.4
1965q3 175 163.1
1965q4 178.5 164.8
1966q1 179.3 165.1
1966q2 178.2 165.4
1966q3 178.7 165.6
1966q4 179.4 165.7
1967q1 180.1 166.8
1967q2 181.7 168.5
1967q3 181.5 168.7
1967q4 182.3 169.2
1968q1 186.3 170.6
1968q2 187.6 171.1
1968q3 187.9 172.2
1968q4 188 172.9
1969q1 189.7 175.1
1969q2 188.8 175.1
1969q3 190.4 176.2
1969q4 189.6 177.2
1970q1 190.1 176.4
1970q2 191.9 176.8
1970q3 195.3 178.6
1970q4 193.9 178.9
1971q1 200 181.1
1971q2 200.8 182.1
1971q3 203.2 183.5
1971q4 202.6 184.9
1972q1 204.7 189.6
1972q2 209.2 191.6
1972q3 211 193.1
1972q4 213.7 193.9
1973q1 214.8 193.8
1973q2 213.8 192.1
1973q3 211.4 191.6
1973q4 211.8 189.9
1974q1 207.3 188.1
1974q2 207.8 187.6
1974q3 206 187.5
1974q4 207 186.6
1975q1 209.3 186.9
1975q2 212.2 187.5
1975q3 214.3 186.9
1975q4 214.7 186.6
1976q1 216.6 187.3
1976q2 218.1 188.7
1976q3 218.1 189.9
1976q4 218.6 190.7
1977q1 219.4 191.5
1977q2 218.6 191.8
1977q3 221.1 193.1
1977q4 220.3 193.5
1978q1 219.5 195
1978q2 222.7 195
1978q3 222.5 194.8
1978q4 224 195.4
1979q1 221.7 195.1
1979q2 220.7 193
1979q3 218.9 192.2
1979q4 216.8 190.7
1980q1 215.7 188.3
1980q2 212.9 188.2
1980q3 212.8 187.9
1980q4 214.7 187.7
1981q1 217.9 186.8
1981q2 216.8 187.3
1981q3 219.2 187.2
1981q4 216 186.5
1982q1 215.4 187.3
1982q2 215.1 187.8
1982q3 214.9 187.5
1982q4 215.9 187.1
1983q1 218.7 189.2
1983q2 221.7 188.9
1983q3 223 188.6
1983q4 225.2 188.5
1984q1 225.5 188
1984q2 226.9 187.7
1984q3 228.2 187.6
1984q4 228.7 187.4
1985q1 229.9 187.2
1985q2 229.9 187.3
1985q3 232.5 187.6
1985q4 232.3 187.2
1986q1 234.2 187.4
1986q2 237.1 189.4
1986q3 237.9 189.4
1986q4 236.7 189.3
1987q1 234.5 187.8
1987q2 235.2 187
1987q3 235.1 186.4
1987q4 237 186.4
1988q1 237.6 186.3
1988q2 238 186.4
1988q3 239 186.1
1988q4 239.6 186.7
1989q1 239.7 186.8
1989q2 239.8 186
1989q3 240.8 186.6
1989q4 240.4 187.1
1990q1 241.6 186.8
1990q2 243.5 186.6
1990q3 241.7 184.9
1990q4 237.7 183.8
1991q1 238.9 184.5
1991q2 242.7 185.7
1991q3 244.3 186.2
1991q4 245.1 186.4
1992q1 249 186.7
1992q2 250.9 187.4
1992q3 253.5 187.7
1992q4 254.6 187
1993q1 253.4 188.3
1993q2 252 187.5
1993q3 252.8 187.7
1993q4 254.5 187.8
1994q1 255.6 188.8
1994q2 255.1 188.2
1994q3 253.8 188
1994q4 256.3 188.2
1995q1 255 187.5
1995q2 255 187.2
1995q3 255 187.5
1995q4 256.8 187.8
1996q1 258.3 187.6
1996q2 259.1 187.5
1996q3 259 188.1
1996q4 258.9 187.9
1997q1 259.3 188.3
1997q2 262.2 189.4
1997q3 264.4 190.4
1997q4 264.9 191.6
1998q1 265.7 192.9
1998q2 266.3 194.3
1998q3 269.5 195
1998q4 270.9 195.8
1999q1 273.8 196.9
1999q2 272.4 197.2
1999q3 273.8 197.7
1999q4 276.3 198
2000q1 273.2 196.9
2000q2 277.9 198.1
2000q3 277.8 198.4
2000q4 280.7 200
2001q1 278.4 200.4
2001q2 281.7 201.6
2001q3 282.2 202.9
2001q4 285.8 205
2002q1 290.7 206.3
2002q2 290.5 206.3
2002q3 292 207.5
2002q4 292.4 209.1
2003q1 294.2 209.2
2003q2 299.9 210.6
2003q3 304 210.4
2003q4 307.3 210
2004q1 307.3 210
2004q2 309.9 209.8
2004q3 311.6 210
2004q4 312.8 209.3
2005q1 316.2 210.2
2005q2 316.7 210.5
2005q3 315.9 209.1
2005q4 316.7 209
2006q1 319.1 209.6
2006q2 318.4 210.1
2006q3 316.6 210
2006q4 319.8 212.6
2007q1 321.4 212.5
2007q2 321.3 212.9
2007q3 323.2 213.7
2007q4 322.7 212.7
2008q1 319.2 212.6
2008q2 319.3 212.2
2008q3 316.9 211
2008q4 321.9 217.6
2009q1 327.4 222.4
2009q2 331.1 222.5
2009q3 333.7 222.1
2009q4 337.1 222.1
2010q1 338.7 224
2010q2 340.6 224.9
2010q3 344.6 225.2
2010q4 344.7 224.8
2011q1 341 223.7
2011q2 339.1 222.1
2011q3 338.2 221.3
2011q4 338.6 221.4
2012q1 340.1 219.9
2012q2 341.9 220.4
2012q3 339.9 220.6
2012q4 339.6 219.8
2013q1 342.4 221.4
2013q2 343.5 223.1
2013q3 344.8 223.5
2013q4 347 224
2014q1 344.2 223.7
2014q2 345.9 223.5
2014q3 349 223.9
2014q4 348.5 225.2
2015q1 352.1 228.1
2015q2 353.7 227.8
2015q3 354.7 228.2
2015q4 353.6 229.9
2016q1 354.6 231.5
2016q2 354.4 231.1
2016q3 355.4 231.5
2016q4 357.9 231.4
2017q1 357.8 231.2
2017q2 357.9 232.4
2017q3 361.4 233.2
2017q4 362.7 232.8
2018q1 364 233.2
2018q2 364.5 234.1
2018q3 365.5 235.2
2018q4 365.2 236.7
2019q1 367.3 237.7
2019q2 368.8 238.3
2019q3 372.1 239.6
2019q4 374.1 240
2020q1 372.7 241
2020q2 385.7 253.7
2020q3 392.3 248.2
2020q4 389.5 248.1
2021q1 394.1 248.5
2021q2 394.9 247.5
2021q3 393.9 247.4
2021q4 395 246
2022q1 390.9 244.3
2022q2 388.3 241.9
2022q3 387.4 241.6
2022q4 389.8 242.5
2023q1 390.7 243.5
2023q2 391.7 245
2023q3 396.2 245.8
2023q4 397.8 247.1
2024q1 399.4 247.3
2024q2 401.2 248.3
2024q3 403.1 250.6
2024q4 404.6 251.3
2025q1 402.9 251.7
2025q2 406.1 253

 

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The data below can be saved or copied directly into Excel.

Economic Policy Institute

Notes: Data are for compensation (wages and benefits) of production/nonsupervisory workers in the private sector and net productivity of the total economy. “Net productivity” is the growth of output of goods and services less depreciation per hour worked.

Source: EPI analysis of unpublished Total Economy Productivity data from Bureau of Labor Statistics (BLS) Labor Productivity and Costs program, wage data from the BLS Current Employment Statistics, BLS Employment Cost Trends, BLS Consumer Price Index, and Bureau of Economic Analysis National Income and Product Accounts.

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Protecting and empowering workers in an age of artificial intelligence: Lessons from the Biden-Harris administration

Recent advances in generative artificial intelligence (AI) have sparked increased awareness and adoption of AI tools in the workplace. While AI systems and tools have been used in the workplace for decades, this acceleration in capabilities and greater public attention have motivated more concerted and urgent policy efforts, including a focus on protecting and empowering workers. During the Biden-Harris administration, leadership and agencies across the federal government acted to better understand the potential implications of AI for workers and to protect workers from risks to their livelihoods and rights. 

The Database of Biden Administration Actions on AI — a joint project from EPI and Workshop — can serve as a resource for state, local, and federal efforts to tackle these challenges and opportunities.

Biden-Harris administration actions to protect workers and the public

In October 2022, the White House Office of Science and Technology Policy released the Blueprint for an AI Bill of Rights to help guide the design, development, and deployment of AI and other automated systems. This document outlines protections that should be guaranteed and served as a guiding resource by affirming the values that must be front and center when undertaking policymaking on AI. 

A few months later, OpenAI released ChatGPT, which spurred an increased sense of urgency for this work. President Biden’s October 2023 executive order (EO) on “Safe, Secure, and Trustworthy Development and Use of AI” was—at the time—the most significant government action globally on AI safety, security, and trust. The EO highlighted a commitment to supporting U.S. workers and directed a number of related agency actions, including the Department of Labor’s (DOL) principles and best practices for developers and employers, which provide a roadmap for responsible use of AI in the workplace. 

From the start of Biden’s administration, federal agency leaders were clear that existing laws and regulations ensure rights and protections related to AI, and that agencies would play an active role in regulation and enforcement. Agency actions included:

  • The Equal Employment Opportunity Commission launched an initiative on AI and algorithmic fairness, and shared tips for workers focused on disability discrimination and the use of software. 
  • DOL issued a guide for federal contractors on AI and equal employment opportunity—which included a set of promising practices for employers—and addressed AI in other regulations and guidance, including the Good Jobs Principles; rulemaking on independent contractors; and guidance on the use of AI and automated systems and federal labor standards. 
  • The Consumer Financial Protection Bureau released guidance to protect workers from surveillance and decision-making that violates Fair Credit Reporting Act rules. 
  • The National Labor Relations Board issued guidance focused on unlawful surveillance which could interfere with employees’ ability to engage in collective bargaining and other protected activities. 
  • The Federal Trade Commission addressed harmful commercial surveillance by major companies and brought to light the collection and monetization of personal data and the use of corporate surveillance pricing software. 

Trump administration and a new federal landscape

Immediately upon taking office, the Trump administration rescinded President Biden’s executive order on AI and issued a new executive order requiring an immediate review of all actions taken under the previous administration’s executive order. Relevant documents have already been removed from public websites, and many worker protective actions have already been rolled back, along with ongoing cuts decimating many of these agencies. 

In a speech at the February 2025 Artificial Intelligence Action Summit in Paris, Vice President Vance decried excessive regulation of AI domestically and internationally. He also said the Trump administration would “maintain a pro-worker growth path for AI,” but did not provide any policy specifics. The White House and many in Congress also backed a measure in the Republican budget mega bill that would have imposed a 10-year moratorium on any meaningful regulation of AI at the state and local levels, to supposedly avoid hindering tech innovation. While this measure fortunately failed to pass in the final version of the legislation in July 2025, the enthusiasm for ramming it through is a worrying sign of the administration’s priorities, particularly for worker advocates seeking to make meaningful change at the state and local levels.

In July 2025, the White House released its AI Action Plan, which continues to emphasize stripping protections from the public. While the plan purports to focus on empowering workers, the actions it outlines do not address workplace rights, surveillance and privacy, or algorithmic discrimination. Further, the Action Plan’s focus on the importance of deregulation as a prerequisite for AI advancement suggests that worker protections will be put aside. Instead of putting forth a real vision for worker empowerment, the plan suggests that unfunded actions around the edges can make a meaningful difference in worker opportunities and outcomes. 

Looking forward

In this new landscape, the tech industry has been emboldened and is increasing lobbying at the state level in addition to its efforts at the White House and in Congress to undo and prevent meaningful protections related to AI. The combined power, collaboration, and messaging of labor, civil rights, consumer protection, and community groups will be critical. 

A broad and ambitious vision for responsible AI governance is essential at a time when protections are under attack and AI-related risks are more pressing than ever. The Biden-Harris administration began to tackle many questions about the implications and opportunities for workers of advances in AI and automated systems. But this was just a first step and much of the progress at the federal level is now being undone. The vast resources, guidance documents, and innovative enforcement actions can and should be a model to augment existing state, local, and federal efforts to protect and empower workers in an age of rapid AI development and adoption. 


The coauthors are both Fellows at Workshop, an organization that leverages expertise in policy and partnerships across the federal government, advocacy, and organizing to protect and advance workers’ rights.

New state income and poverty data show a strong economy in 2024, but Trump policies threaten progress

U.S. Census data released this week showed that national median household income held strong in 2024. However, income growth was uneven and regional poverty disparities persisted.

Today, the Census Bureau released 2024 state-level income and poverty data from the American Community Survey (ACS). Although these data come from a different survey than the national income and poverty data, the overall trends are similar, with a range of outcomes across states.

Importantly, these data describe trends for 2024 and tell us nothing about economic conditions this year, in which Trump administration actions—chaotic tariffs, mass deportations, attacks on federal employees—have weakened the labor market, put upward pressure on prices, and threatened to undo recent progress of historically high wage growth and declining inequality.

State-level changes in household income

Between 2023 and 2024, U.S. median household income rose 2.0% to $81,604.1 Median household income varied significantly by state, from a low of $59,127 in Mississippi to $109,707 in the District of Columbia in 2024. Compared with 2023, median household incomes saw the largest decline in Rhode Island (–4.5%) and the largest increase in Alaska (7.3%). Twenty-nine states had a statistically significant increase in median income while the remaining 21 states and D.C. had no measurable year-over-year change in household income, positive or negative.

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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.

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Today’s BLS preliminary benchmark revisions are necessary for timely and accurate data—not fodder for Trump’s attacks

Today’s preliminary benchmark announcement from the Bureau of Labor Statistics (BLS) reveals weaker job growth between March 2024 and March 2025 than when it was first reported based on survey data. These numbers are likely to anger President Trump and the White House who incorrectly view revised data as political manipulation. Trump has already lashed out at BLS, including firing the agency’s commissioner because a jobs report showed a rapidly weakening labor market. But these BLS data revisions are not corrections of mistakes. Revisions are part of the regular, transparent process to update employment counts with the most comprehensive data possible.

In today’s release, BLS provided preliminary estimates—during which no data will actually be revised—as a window into its eventual benchmark revisions that will be implemented in the beginning of 2026. According to the data, average monthly job growth between March 2024 and March 2025 may have been only half the pace that was initially estimated, about 70,600 jobs per month rather than 146,500. These preliminary estimates are consistent with other signs of slowing job growth in late 2024 and the beginning of 2025. The bulk of these revisions reflect 2024 data—in fact, despite the predictable angst they will generate from the White House, today’s revisions tell us very little about the state of Trump’s economy since he wasn’t president in 2024.

Instead, the preliminary benchmark revisions released this morning are simply part of regular BLS communication regarding the best available employment data. Monthly payroll employment estimates are based on a large sample with a fast turnaround; data are regularly updated for two subsequent months as new survey results come in, and then the data are revised again annually in February to reflect administrative records, which are comprehensive but less timely.

Any political retaliation due to today’s release will harm the ability for BLS to provide timely and unbiased statistics, either because the Trump administration is intending to undermine data integrity, or because political attacks on the dedicated public servants at BLS limit their ability to collect, process, and release these statistics. The latest economic data—which are wholly unaffected by today’s preliminary revisions—suggest the labor market is weakening for all workers. Job growth has been especially weak since May. Household survey rates also point to falling prime-age Black employment and higher unemployment for U.S.-born workers. Punishing the messenger will only further damage the federal data infrastructure and cloud our ability to understand the state of the economy.

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Another weak jobs report fuels fears of a recession

Below, EPI senior economist Elise Gould offers her insights on the jobs report released this morning, which showed 22,000 jobs added in August. 

The labor market continues to soften, according to the latest #JobsReport out this morning from the BLS. Payroll employment grew only 22,000 in August and revisions now show employment losses for June (-13,000). Over the last three months, job growth has slowed to just 29,000 on average.
#EconSky

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— Elise Gould (@elisegould.bsky.social) Sep 5, 2025 at 7:41 AM

Job losses were particularly acute in professional/business services, the federal govt, and wholesale trade, but there have also been sustained losses over recent months in manufacturing, construction, and mining, an indication that Trump’s blue-collar renaissance is clearly not happening.
#EconSky

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— Elise Gould (@elisegould.bsky.social) Sep 5, 2025 at 7:59 AM

Federal cuts continue to cost jobs as federal employment fell another 15k in August. Federal employment is now down 97k since January. The full extent of the federal job losses won’t be seen until we get data for October after thousands more leave federal payrolls on September 30.
#EconSky

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— Elise Gould (@elisegould.bsky.social) Sep 5, 2025 at 8:11 AM

Lest anyone tells you otherwise, the monthly revisions that led to a fall in employment for June are part of the normal #JobsDay process as BLS receives additional reports from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.

[image or embed]

— Elise Gould (@elisegould.bsky.social) Sep 5, 2025 at 8:24 AM

The household survey also provides useful information about labor market health. The unemployment rate ticked up to 4.3%, it’s highest since 2021. While a more volatile series, the data show sustained increases in Black unemployment over the last three months, hitting 7.5% in August.
#EconSky

[image or embed]

— Elise Gould (@elisegould.bsky.social) Sep 5, 2025 at 8:46 AM

The unemployment rate for young workers (16-24) also continued to increase with the latest data. Again, it’s a notably volatile series because of small sample sizes, but it’s now up just over a percentage point since March. A weak hires rate can make it harder for new entrants to find jobs.
#EconSky

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— Elise Gould (@elisegould.bsky.social) Sep 5, 2025 at 8:55 AM

Next week’s 2024 Census data will give us the final snapshot of the economy’s health before Trump

The U.S. labor market continued to expand in 2024, but at a slower pace than the prior two years. Job growth remained fast enough to largely keep pace with population growth and wages rose faster than inflation. Upcoming Census Bureau data for 2024—set to be released on Tuesday—will reflect how these factors and others impacted annual earnings, income, poverty, and health insurance for workers, families, and children across the country.  

It’s worth emphasizing that the upcoming Census data do not reflect any economic developments in 2025. Some policymakers will attempt to claim any good news from the data as validation of the current U.S. policy path, but this would be completely misleading given the radical policy shifts in 2025 under the Trump administration. In this piece, we argue:

  • Data for 2024 will likely reflect continued labor market strength. Inflation decelerated rapidly in 2024, which should boost last year’s income growth. 
  • Even the likely strong 2024 income and poverty data will still show an economy that has left many workers, families, and children in an economically precarious position. Racial disparities in income, for example, leave people of color much more vulnerable to economic insecurity and poverty.
  • Trump administration policies—including chaotic and historically high tariffs, mass deportations, and attacks on the federal workforce—have already led to a softening labor market and more inflationary pressures in the economy. Given this, income and poverty measures are likely to worsen when these data are released next year for 2025.  
  • In 2026 and beyond, cuts to food assistance and Medicaid that were part of the Republican-passed spending bill will increase food insecurity and the number of people without health insurance, particularly for families of color.
  • The Census data are incredibly valuable and provide transparent and non-politicized data that allow Americans to make informed decisions about what policies are delivering economic security for working people. The Trump administration has begun attempting to politicize and erode trust in federal statistical agencies and to manipulate the reporting of anything that seems like bad news for the economy. This is deeply undemocratic.

Read more