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This report presents estimates on income, earnings, and inequality in the United States for calendar year 2023, based on information collected in the 2024 and earlier Current Population Survey Annual Social and Economic Supplements (CPS ASEC) conducted by the Census Bureau.
The income estimates in the main sections of this report are based on the concept of money income, which is pretax and does not account for the value of in-kind transfers. Appendix A provides a detailed explanation of how income is measured using the CPS ASEC. Estimates of post-tax income and inequality are included in Appendix B.
To adjust for changes in the cost of living over time, historical income and earnings estimates in this report are expressed in real or 2023 dollars. The current method for inflation-adjustment is based on the Chained Consumer Price Index for all Urban Consumers (C-CPI-U) between 2000 and 2023 and the Consumer Price Index for all Urban Consumers Retroactive Series (R-CPI-U-RS) prior to 2000. More information on the inflation adjustment and the annual index values are available in Appendix A.
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