For the first time in four years, median household income has increased, reaching $80,610 in 2023 compared to $77,540 in 2022.
A report published earlier this month from the US Census Bureau tracked household incomes across the country for 2023 and compared the numbers to incomes tracked for 2022. Census data found that incomes rose significantly in 2023 for the first time since 2019.
From 2022 to 2023, the number of people in the labor force has also increased, with 2.2 million employed.
Related: Worried about AI stealing your work? A new report calls these 10 'AI-proof' careers
Income gains were not evenly distributed, with 11 states seeing average income declines. Maryland had the biggest drop, from $112,500 to $102,000. North Dakota, Louisiana, New Jersey and Minnesota also recorded average income declines of more than 4%.
South Dakota was the standout state that showed the biggest gains (median household income increased 17% or more than $11,000 to $81,740) from 2022 to 2023.
Other states also saw tremendous revenue growth. Here are the top five states with the biggest income gains from 2022 to 2023, according to Census data.
1. South Dakota
2023 earnings: $81,740
2022 earnings: $69,850
Percentage increase: 17%
2. Vermont
2023 earnings: $85,190
2022 earnings: $75,060
Percentage increase: 13.5%
3. Arkansas
2023 earnings: $63,250
2022 earnings: $56,120
Percentage increase: 12.7%
4. New Hampshire
2023 earnings: $98,780
2022 earnings: $88,350
Percentage increase: 11.8%
5. Kansas
2023 earnings: $84,830
2022 earnings: $75,950
Percentage increase: 11.7%
Related: These are the 15 best entry-level jobs with the highest salary