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Chart of Average American Income

Average American Income (2012 to 2022)

Suppose you’re looking to set up an ecommerce business targeting the US market. In that case, it’s essential to understand the average US income and how it’s evolved over the years.

According to the latest data on average American income levels from the US Bureau of Labor Statistics (BLS), in 2021, the average US income came in at $87,432 (before taxes).

This represents a 3.7% year-over-year increase from 2021’s $84,352, which is nearly double the 1.8% annual increase registered the year before.

Though there were slight dips of 2.8% in 2013 and 1.5% in 2017, the average American income has actually been increasing steadily in recent years.

As a matter of fact, the average American income has risen every year since 2018. In the period years from 2018 to 2021, it increased by $8,797. This marks a 4.4% average annual increase and an 11.2% overall increase in just three years.

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Average US Income (Q3 2021 to Q3 2022)

Chart of Suppose you’re looking to set up an ecommerce business targeting the US market. In that case, it’s essential to understand the average US income and how it’s evolved over the years.  According to the latest data on average American income levels from the US Bureau of Labor Statistics (BLS), in 2021, the average US income came in at $87,432 (before taxes). This represents a 3.7% year-over-year increase from 2021’s $84,352, which is nearly double the 1.8% annual increase registered the year before.  Though there were slight dips of 2.8% in 2013 and 1.5% in 2017, the average American income has actually been increasing steadily in recent years.  As a matter of fact, the average American income has risen every year since 2018. In the period years from 2018 to 2021, it increased by $8,797. This marks a 4.4% average annual increase and an 11.2% overall increase in just three years. Average US Income (Q3 2021 to Q3 2022)

The most recent statistics from the BLS show that in the third quarter of 2022, the median weekly income of all full-time wage and salary American workers was $1,068. This was a 6.5% year-over-year increase and a 2.2% increase from the previous quarter.

Assuming a 40-hour workweek, the average hourly income for American workers in Q3 2022 came in at $26.70.

The average American income varies according to gender. In the most recent quarter, men took home an average of $1,166 per week, about 20.5% more than women’s median weekly income of $968.

The BLS has cautioned for the data to be interpreted with care. It’s important to consider the impact of the coronavirus pandemic on the economy and labor market and the resulting efforts and measures.

Average Income in the US Compared to the Rest of the World

According to data from the World Bank, US citizens are considered to have high levels of income. Along with Canada, Australia, Japan, South Korea, most European Union countries, and several others, the US is tagged as a “high-income” country. 

Given the relatively high average American salary, it should also come as no surprise that the purchasing power parity of Americans also ranks among the highest in the world, second only to China.

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