The average yearly income in the United States for 2023

The average yearly income in the United States for 2023

The average yearly income in the United States for 2023

The average yearly income in the United States is estimated to be $74,920 in 2023. This estimate is based on data from the Bureau of Labor Statistics.

The average income for men is estimated to be $87,720, while the average income for women is estimated to be $63,610. This means that men earn about 37% more than women on average.

The average income for people with a bachelor's degree is estimated to be $116,480, while the average income for people with a high school diploma or less is estimated to be $51,750. This means that people with a bachelor's degree earn about 124% more than people with a high school diploma or less.

The average income varies significantly by state. The state with the highest average income is California, with an estimated average income of $89,975. The state with the lowest average income is Mississippi, with an estimated average income of $46,606.

The average income also varies significantly by occupation. The occupation with the highest average income is chief executives, with an estimated average income of $181,698. The occupation with the lowest average income is food preparation workers, with an estimated average income of $28,670.

The average income in the United States has been increasing in recent years. The average income in 2022 was $71,456. This means that the average income has increased by about 4.8% in the past year.

There are a number of factors that contribute to the variation in income in the United States. These factors include education, occupation, experience, and location.

Education is one of the most important factors that affects income. People with a higher level of education tend to earn more money than people with a lower level of education. This is because people with a higher level of education have more skills and knowledge that are in demand by employers.

Occupation is another important factor that affects income. Some occupations are simply more lucrative than others. For example, doctors and lawyers typically earn much more than retail workers or food service workers.

Experience is also an important factor that affects income. People with more experience tend to earn more money than people with less experience. This is because people with more experience have developed the skills and knowledge that are necessary to be successful in their field.

Location is another important factor that affects income. The cost of living varies significantly from place to place. In general, people who live in high-cost areas tend to earn more money than people who live in low-cost areas. This is because the cost of living in high-cost areas is higher, so employers need to pay their employees more in order to attract and retain them.

It is important to note that these are just estimates. The actual average income in the United States may vary depending on a number of factors, such as the specific state or city you live in, your occupation, and your level of education.

If you are interested in learning more about the average income in the United States, you can visit the Bureau of Labor Statistics website.