The pandemic induced a significant economic toll on Americans, per a recent report, which indicated income inequality increased by 1.2% — as measured by the so-called Gini index — between 2020 and 2021. This is the first annual increase since 2011, according to the Census Bureau’s “Income in the United States” report released Sept. 13.

                By                    Yaёl Bizouati-Kennedy

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Per the report, “The continued response to the COVID-19 pandemic, rising inflation, shifts in worker composition and other macroeconomic conditions, shaped the experiences of households in 2021.”

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In addition, the report found that real median household income was $70,784 in 2021, which is not statistically different from the 2020 estimate of $71,186, “and 2.8% lower than the 2019 median, the year before the most recent recession.”

In terms of gender inequality, women continued to earn less than men, but both groups saw their earnings decrease.

“Consistent with the findings for all full-time, year-round workers, median earnings of men ($61,180) and women ($51,226) who worked full-time, year-round decreased by 4.7% and 4%, respectively, between 2020 and 2021,” the report detailed.

Real median income also varied by age groups, with median income for household members aged 65 and over being hit the hardest — declining 2.6% between 2020 and 2021, according to the report. On the other hand, household members aged 15 to 24 and those 45 to 54 experienced increases of 5.2% and 2.6%, respectively.

The Census Bureau also put forth data indicating that Asian households had the highest median income in 2021, followed by non-Hispanic white households and Hispanic households, while Black households had the lowest median income.

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Interestingly, while there were no significant changes in median incomes by region, they were the highest in the West and the Northeast, followed by the Midwest and the South, per the report.