This statistic shows the share of rural Americans who could not afford an unexpected expense in 2019, by income. During the survey, 54 percent of rural Americans who had an income of 25,000 U.S. dollars to 50,000 U.S. dollars reported that they would not be able to pay off an unexpected expense of 1,000 U.S. dollars right away.

This statistic shows the total personal income in the United States from 1990 to 2023. The data are in current U.S. dollars not adjusted for inflation or deflation. According to the BEA, personal income is the income that is received by persons from all sources. It is calculated as the sum of wage and salary disbursements, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance. Personal income increased to about 23 trillion U.S. dollars in 2023.Personal income Personal income in the United States has risen steadily over the last decades from 5.07 trillion U.S. dollars in 1991 to 23 trillion U.S. dollars in 2023. Personal income includes all earnings including wages, investments, and other sources. Personal income also varied widely across the U.S., where those living in the District of Columbia, on the higher scale, earned an average of 96,873 U.S. dollars per capita and on the lower end of the spectrum, people in Mississippi earned 45,438 U.S. dollars per capita. In the District of Columbia, disposable income averaged some 81,193 U.S. dollars. In total, California earned the most personal income followed by Texas, receiving three trillion U.S. dollars and 1.76 trillion U.S. dollars, respectively. Income tends to vary widely between demographics in the United States. Those with higher education levels tend to earn more money. However, only 25.7 percent of persons with a disability that had a Bachelor's degree or higher were employed in 2020. The Social Security and Supplemental Security Income disability programs provide monetary benefits to the disabled and certain family members.

In a survey conducted in Australia in 2021, over half of the respondents with an annual household income of between 20,001 and 40,000 Australian dollars indicated that they live paycheck to paycheck. Generally, households with higher annual incomes were less likely to live paycheck to paycheck, with the exception of households earning 20,000 Australian dollars or less, who were slightly less likely than those earning between 20,001 and 40,000 Australian dollars to live paycheck to paycheck.

Check Cashing Service Market Outlook

The global check cashing service market size was valued at approximately USD 11 billion in 2023 and is projected to reach USD 16.5 billion by 2032, growing at a CAGR of 4.5% during the forecast period. This growth is primarily driven by the increasing demand for convenient and quick access to cash, particularly among unbanked and underbanked populations. The check cashing industry is essential for providing financial services to individuals and businesses who lack access to traditional banking facilities.

One of the primary growth factors driving the check cashing service market is the significant portion of the global population that remains unbanked or underbanked. According to recent estimates, over 1.7 billion people worldwide do not have access to traditional banking services. This demographic relies heavily on alternative financial service providers, such as check cashing services, to meet their financial needs. The convenience and immediacy offered by these services make them a popular choice, particularly for individuals living paycheck to paycheck or in remote areas where banking infrastructure may be limited.

Another critical growth factor is the increasing prevalence of gig economy jobs and freelance work. With more people working independently and receiving payments via checks, there is a rising need for quick and reliable check cashing services. This trend is further supported by the growing number of small and medium-sized enterprises (SMEs) that prefer check payments for various transactions. As the gig economy continues to expand, the demand for check cashing services is expected to rise correspondingly, thereby driving market growth.

The integration of technology into check cashing services is also propelling market growth. Innovations such as mobile check cashing apps and online check cashing platforms offer enhanced convenience and accessibility to customers. These technological advancements are particularly appealing to tech-savvy younger generations who value the ability to perform financial transactions on-the-go. Furthermore, the implementation of security measures and verification processes within these digital platforms ensures that customers' transactions are safe and secure, thereby increasing their trust and reliance on these services.

Cash Flow Management Service plays a crucial role in the financial ecosystem, particularly for businesses and individuals who rely on check cashing services. These services help manage the inflow and outflow of cash, ensuring that there is sufficient liquidity to meet immediate financial obligations. For businesses, effective cash flow management can mean the difference between thriving and struggling, as it allows them to maintain operations smoothly and invest in growth opportunities. Individuals, especially those who are unbanked or underbanked, benefit from cash flow management services by gaining better control over their finances, reducing the risk of financial shortfalls, and planning for future expenses. The integration of cash flow management services with check cashing solutions can provide a comprehensive financial strategy that enhances financial stability and security.

In terms of regional outlook, North America is expected to dominate the check cashing service market, owing to the substantial unbanked population and the widespread acceptance of alternative financial services. The Asia Pacific region is also anticipated to witness significant growth, driven by the increasing adoption of digital financial services and the expanding middle-class population seeking convenient banking alternatives. Europe, Latin America, and the Middle East & Africa are projected to experience steady growth, supported by ongoing efforts to improve financial inclusion and the rising demand for quick access to cash.

Service Type Analysis

Payroll Check Cashing

Payroll check cashing services represent a significant segment of the overall check cashing service market. This service type is particularly popular among workers who receive their wages in the form of paper checks. The convenience of being able to cash a payroll check immediately after receiving it, often without the need for a bank account, makes this service highly valuable. Many employees, especially those in low-income brackets or those employed in temporary or part-time positions, rely on payroll check cashing services to access the

This statistic shows the median household income in the United States from 1990 to 2023 in 2023 U.S. dollars. The median household income was 80,610 U.S. dollars in 2023, an increase from the previous year. Household incomeThe median household income depicts the income of households, including the income of the householder and all other individuals aged 15 years or over living in the household. Income includes wages and salaries, unemployment insurance, disability payments, child support payments received, regular rental receipts, as well as any personal business, investment, or other kinds of income received routinely. The median household income in the United States varies from state to state. In 2020, the median household income was 86,725 U.S. dollars in Massachusetts, while the median household income in Mississippi was approximately 44,966 U.S. dollars at that time. Household income is also used to determine the poverty line in the United States. In 2021, about 11.6 percent of the U.S. population was living in poverty. The child poverty rate, which represents people under the age of 18 living in poverty, has been growing steadily over the first decade since the turn of the century, from 16.2 percent of the children living below the poverty line in year 2000 to 22 percent in 2010. In 2021, it had lowered to 15.3 percent. The state with the widest gap between the rich and the poor was New York, with a Gini coefficient score of 0.51 in 2019. The Gini coefficient is calculated by looking at average income rates. A score of zero would reflect perfect income equality and a score of one indicates a society where one person would have all the money and all other people have nothing.

According to a recent study, Colombia had the lowest monthly cost of living in Latin America with 546 U.S. dollars needed for basic living. In contrast, four countries had a cost of living above one thousand dollars, Costa Rica, Chile, Panama and Uruguay. In 2022, the highest minimum wage in the region was recorded by Ecuador with 425 dollars per month.

Can Latin Americans survive on a minimum wage? Even if most countries in Latin America have instated laws to guarantee citizens a basic income, these minimum standards are often not enough to meet household needs. For instance, it was estimated that almost 22 million people in Mexico lacked basic housing services. Salary levels also vary greatly among Latin American economies. In 2022, the average net monthly salary in Brazil was lower than Ecuador's minimum wage.

What can a minimum wage afford in Latin America? Latin American real wages have generally risen in the past decade. However, consumers in this region still struggle to afford non-basic goods, such as tech products. Recent estimates reveal that, in order to buy an iPhone, Brazilian residents would have to work more than two months to be able to pay for it. A gaming console, on the other hand, could easily cost a Latin American worker several minimum wages.

More than half of the respondents in a global survey were at least slightly struggling with paying for basic needs as of September 2022. The single commodity that most people were struggling with was energy and utilities, followed by food. On the other hand, fewest were affected by credit card repayments. Rising inflation rates have seen cost of living surge in 2022, which has especially affected energy and certain types of food.

Between 2018 and 2022, people in households in the ‘other’, Asian and black ethnic groups were the most likely to be in persistent low income, both before and after housing costs, out of all ethnic groups.

Average hourly and weekly wage rate, and median hourly and weekly wage rate by North American Industry Classification System (NAICS), type of work, gender, and age group.

In total, about 59.9 percent of U.S. households paid income tax in 2022. The remaining 40.1 percent of households paid no individual income tax. In that same year, about 47.1 percent of U.S. households with an income between 40,000 and 50,000 U.S. dollars paid no individual income taxes.

In March 2025, inflation amounted to 2.4 percent, while wages grew by 4.3 percent. The inflation rate has not exceeded the rate of wage growth since January 2023. Inflation in 2022 The high rates of inflation in 2022 meant that the real terms value of American wages took a hit. Many Americans report feelings of concern over the economy and a worsening of their financial situation. The inflation situation in the United States is one that was experienced globally in 2022, mainly due to COVID-19 related supply chain constraints and disruption due to the Russian invasion of Ukraine. The monthly inflation rate for the U.S. reached a 40-year high in June 2022 at 9.1 percent, and annual inflation for 2022 reached eight percent. Without appropriate wage increases, Americans will continue to see a decline in their purchasing power. Wages in the U.S. Despite the level of wage growth reaching 6.7 percent in the summer of 2022, it has not been enough to curb the impact of even higher inflation rates. The federally mandated minimum wage in the United States has not increased since 2009, meaning that individuals working minimum wage jobs have taken a real terms pay cut for the last twelve years. There are discrepancies between states - the minimum wage in California can be as high as 15.50 U.S. dollars per hour, while a business in Oklahoma may be as low as two U.S. dollars per hour. However, even the higher wage rates in states like California and Washington may be lacking - one analysis found that if minimum wage had kept up with productivity, the minimum hourly wage in the U.S. should have been 22.88 dollars per hour in 2021. Additionally, the impact of decreased purchasing power due to inflation will impact different parts of society in different ways with stark contrast in average wages due to both gender and race.

The annual salary received by members of the United States Congress in 2025 is ******* U.S. dollars. This has been the case since 2009. The Government Ethics Reform Act of 1989 provides an automatic cost of living adjustment increase in line with the

In April 2025, 23 percent of households in Great Britain reported that they could not afford an unexpected expense of 850 British pounds. In the same month, approximately 72 percent of people reported rising living costs relative to the previous month.

The timeline presents data on pay TV penetration rate in Latin America from 2010 to 2019. In 2018, 55.39 percent of people living in TV households in Latin America had access to pay TV services. The industry generated 19.5 billion U.S. dollars in revenues in Latin America in 2017. Largest pay TV operator in the region (based on subscriber count) was DirecTV/Sky, followed by America Movil. Telefonica had 4.62 million pay TV subscribers in December 2017.

Costa Rica is the country with the highest minimum monthly wage in Latin America. According to the minimum salary established by law as of January 2025, workers in the Central American country enjoy a basic monthly wage of over 726 U.S. dollars, an increase of 2.37 percent compared to the previous year. They also earn over 200 U.S. dollars more than the second place, Uruguay. On the other side of the spectrum is Venezuela, where employees are only guaranteed by law a minimum salary of 130 bolívares or little more than 2.50 dollars per month. Can Latin Americans survive on a minimum wage? Even if most countries in Latin America have instated laws to guarantee citizens a basic income, these minimum standards are often not enough to meet household needs. For instance, it was estimated that almost 25 million people in Mexico lacked basic housing services. Salary levels also vary greatly among Latin American economies. In 2020, the average net monthly salary in Mexico was barely higher than Chile's minimum wage in 2021. What can a minimum wage afford in Latin America? Latin American real wages have generally risen in the past decade. However, consumers in this region still struggle to afford non-basic goods, such as tech products. Recent estimates reveal that, in order to buy an iPhone, Brazilian residents would have to work at least two months to be able to pay for it. A gaming console, on the other hand, could easily cost a Latin American worker several minimum wages.

In 2023, the median hourly earnings of wage and salary workers in the United States was 19.24 U.S. dollars. This is an increase from 1979, when median hourly earnings were at 4.44 U.S. dollars. Hourly Workers The United States national minimum wage is 7.25 U.S. dollars per hour, which has been the minimum wage since 2009. However, each state has the agency to set their state minimum wage. Furthermore, some cities are able to create their minimum wage. Many argue that the minimum wage is too low and should be raised, because it is not considered a living wage. There has been a movement to raise the minimum wage to 15 U.S. dollars per hour, called “Fight for 15” which began in the early 2010s. While there has been no movement at the federal level, some states have moved to increase their minimum wages, with at least three states and the District of Columbia setting minimum wage rates at or above 15 dollars per hour. More recently, some proponents of increasing the minimum wage say that 15 dollars is too low, and lawmakers should strive toward a higher goal, especially given that a 2021 analysis found that the minimum wage in the U.S. should be 22.88 U.S. dollars if it grew at the same rate as economic productivity. Salary Workers On the other hand, salary workers in the United States do not get paid on an hourly basis. The median weekly earnings of salary workers have significantly increased since 1979. Asian salary workers had the highest hourly earnings in the U.S. in 2021. Among female salary workers, those ages 45 to 54 years old had the highest median hourly earnings in 2021, likewise for male salary workers.

In 2023 the poverty rate in the United States was highest among people between 18 and 24, with a rate of 16 percent for male Americans and a rate of 21 percent for female Americans. The lowest poverty rate for both men and women was for those aged between 45 and 54. What is the poverty line? The poverty line is a metric used by the U.S. Census Bureau to define poverty in the United States. It is a specific income level that is considered to be the bare minimum a person or family needs to meet their basic needs. If a family’s annual pre-tax income is below this income level, then they are considered impoverished. The poverty guideline for a family of four in 2021 was 26,500 U.S. dollars. Living below the poverty line According to the most recent data, almost one-fifth of African Americans in the United States live below the poverty line; the most out of any ethnic group. Additionally, over 7.42 million families in the U.S. live in poverty – a figure that has held mostly steady since 1990, outside the 2008 financial crisis which threw 9.52 million families into poverty by 2012. The poverty gender gap Wage inequality has been an ongoing discussion in U.S. discourse for many years now. The poverty gap for women is most pronounced during their child-bearing years, shrinks, and then grows again in old age. While progress has been made on the gender pay gap over the last 30 years, there are still significant disparities, even in occupations that predominantly employ men. Additionally, women are often having to spend more time attending to child and household duties than men.

In the United States in 2017, deaf individuals with full-time employment had a median annual salary of 50,000 U.S. dollars, compared to a median salary of 40,000 U.S. dollars among individuals who were deaf and had an independent living disability. This statistic shows median annual earnings among deaf people in the U.S. in 2017, by additional disability status.

A recent survey found that access to live news was the main reason for Americans to keep live pay TV, with 80 percent of those aged over 35 highlighting live news as the reason why they do not cut the cord and instead rely solely on online video services. Whilst live news was also important to the majority of younger viewers, those aged 18 to 35 years old were more open to canceling their pay TV subscriptions, or only kept them due to a poor internet connection. However all ages agreed that watching new TV episodes as soon as they are broadcast was important, with 57 percent of all respondents citing this as their reason to subscribe to pay TV.

In 2023, the average annual real wages in the United States amounted to ****** U.S. dollars. This shows the average annual wages in the United States from 2000 to 2023 in constant 2023 PPP-adjusted U.S. dollars.