Between 1990 and 2023, the mean household income for the low-paid workers in the lowest quintile went from 15,940 U.S. dollars in 1990 to 17,650 U.S. dollars in 2023, while the mean income of the top five percent increased from 285,000 U.S. dollars to 467,100 U.S. dollars over the same period. The income for this period has been adjusted to the 2023 U.S. dollar value.

In 2023, just over 50 percent of Americans had an annual household income that was less than 75,000 U.S. dollars. The median household income was 80,610 U.S. dollars in 2023. Income and wealth in the United States After the economic recession in 2009, income inequality in the U.S. is more prominent across many metropolitan areas. The Northeast region is regarded as one of the wealthiest in the country. Maryland, New Jersey, and Massachusetts were among the states with the highest median household income in 2020. In terms of income by race and ethnicity, the average income of Asian households was 94,903 U.S. dollars in 2020, while the median income for Black households was around half of that figure. What is the U.S. poverty threshold? The U.S. Census Bureau annually updates its list of poverty levels. Preliminary estimates show that the average poverty threshold for a family of four people was 26,500 U.S. dollars in 2021, which is around 100 U.S. dollars less than the previous year. There were an estimated 37.9 million people in poverty across the United States in 2021, which was around 11.6 percent of the population. Approximately 19.5 percent of those in poverty were Black, while 8.2 percent were white.

Graph and download economic data for Share of Net Worth Held by the Top 0.1% (99.9th to 100th Wealth Percentiles) (WFRBSTP1300) from Q3 1989 to Q1 2025 about shares, net worth, wealth, percentile, Net, and USA.

This table presents income shares, thresholds, tax shares, and total counts of individual Canadian tax filers, with a focus on high income individuals (95% income threshold, 99% threshold, etc.). Income thresholds are based on national threshold values, regardless of selected geography; for example, the number of Nova Scotians in the top 1% will be calculated as the number of taxfiling Nova Scotians whose total income exceeded the 99% national income threshold. Different definitions of income are available in the table namely market, total, and after-tax income, both with and without capital gains.

In the third quarter of 2024, the top ten percent of earners in the United States held over ** percent of total wealth. This is fairly consistent with the second quarter of 2024. Comparatively, the wealth of the bottom ** percent of earners has been slowly increasing since the start of the *****, though remains low. Wealth distribution in the United States by generation can be found here.

In 2022, about 14.88 million households in the United States had an income of 200,000 U.S. dollars or more a year. Another 20.77 million households however, had an income of less than 25,000 U.S. dollars in the same year, The total number of households in the U.S. since 1960 can be found here.

Graph and download economic data for Median Personal Income in the United States (MEPAINUSA646N) from 1974 to 2023 about personal income, personal, median, income, and USA.

In the first quarter of 2024, almost two-thirds percent of the total wealth in the United States was owned by the top 10 percent of earners. In comparison, the lowest 50 percent of earners only owned 2.5 percent of the total wealth. Income inequality in the U.S. Despite the idea that the United States is a country where hard work and pulling yourself up by your bootstraps will inevitably lead to success, this is often not the case. In 2023, 7.4 percent of U.S. households had an annual income under 15,000 U.S. dollars. With such a small percentage of people in the United States owning such a vast majority of the country’s wealth, the gap between the rich and poor in America remains stark. The top one percent The United States follows closely behind China as the country with the most billionaires in the world. Elon Musk alone held around 219 billion U.S. dollars in 2022. Over the past 50 years, the CEO-to-worker compensation ratio has exploded, causing the gap between rich and poor to grow, with some economists theorizing that this gap is the largest it has been since right before the Great Depression.

Employment income is generally income (salary, wages, compensation, taxes, bonuses, compensation for job inventions, etc.) received in return for providing labor, which is a non-independent personal service, through an employment relationship or a similar contract, and is distinguished from business income, other income, and retirement income. (Employment income) Payment received for providing labor through an employment relationship or a similar contract → Withholding tax according to the simplified tax table (Business income) Payment received for continuously providing services in an independent capacity without an employment relationship → Withholding tax of 3% of the income amount (Other income) Payment received for temporarily providing services → Withholding tax of 20% of the other income amount (income amount - necessary expenses) (Retirement income) Income paid due to actual retirement based on employer contributions, etc. → Withholding tax upon retirement Employment income percentile (top 1%, 1,000th percentile) data - Number of people - Total salary amount (100 million won) - Employment income amount (100 million won) - Income deduction amount (100 million won) (Employment income deduction + Personal deduction + Pension insurance premium deduction + Special income deduction + Other income deduction - Amount exceeding income deduction limit) - Taxable standard (100 million won) - Determined tax amount (100 million won) This is the value of the total employment income for each quintile, and is expressed in 0.1% units only within the top 1%.

Graph and download economic data for Minimum Wealth Cutoff for the Top 0.1% (99.9th to 100th Wealth Percentiles) (WFRBLTP1311) from Q3 1989 to Q3 2022 about wealth, percentile, and USA.

Taking five Anglo-Saxon countries that have relatively similar backgrounds and tax systems – Australia, Canada, New Zealand, the UK, and the US – we see that the shares of the very richest exhibit a strikingly similar pattern, falling in the three decades after World War II, before rising sharply from the mid-1970s onwards. The share of the top 1 percent is highly correlated across Anglo-Saxon countries, more so than with the share of the next 4 percent. Controlling for country and year fixed effects, we find that a reduction in the marginal tax rate on wage income is associated with an increase in the share of the top percentile group. Likewise, a fall in the marginal tax rate on investment income (based on a lagged moving average) is associated with a rise in the share of the top percentile group.

The average pre-tax income of the top ten percent earners in Spain was over 95,500 euros at purchasing power parity (PPP) as of 2022, almost nine times more than the average income of the bottom half earners. Looking at the distribution of national income in Spain, the earnings of the least affluent half of the population equated to 21 percent of the total country income in 2022, 0.1 percentage points less than one decade earlier. Moreover, the top one percent of earners in Spain accounted for over ten percent of the overall national income.

Income of individuals by age group, sex and income source, Canada, provinces and selected census metropolitan areas, annual.

Many studies have used tax data to measure the U.S. income distribution, but their results vary widely. For example, in 2014 the top 1 percent share of income is 21.5 percent in Piketty and Saez (2003 and updates), 16.7 percent in the Congressional Budget Office (2018), and 13.1 percent in our analysis. What accounts for such large differences? We provide a step-by-step analysis of how methodological differences affect the results and address issues raised in Piketty, Saez, and Zucman (2018, 2019). Important differences include accounting for declining marriage rates, including social insurance and employer benefits, accounting for tax reforms, and including income missing from tax returns.

In March 2025, the top one percent of earners in the United Kingdom received an average pay of over 16,000 British pounds per month, compared with the bottom ten percent of earners who earned around 800 pounds a month.

Graph and download economic data for Share of Financial Assets Held by the Top 1% (99th to 100th Wealth Percentiles) (WFRBST01112) from Q3 1989 to Q1 2025 about wealth, percentile, financial, assets, and USA.

About this dataset

Context

The dataset presents the detailed breakdown of the count of individuals within distinct income brackets, categorizing them by gender (men and women) and employment type - full-time (FT) and part-time (PT), offering valuable insights into the diverse income landscapes within Michigan. The dataset can be utilized to gain insights into gender-based income distribution within the Michigan population, aiding in data analysis and decision-making..

Key observations

• Employment patterns: Within Michigan, among individuals aged 15 years and older with income, there were 3.72 million men and 3.67 million women in the workforce. Among them, 1.94 million men were engaged in full-time, year-round employment, while 1.44 million women were in full-time, year-round roles.
• Annual income under $24,999: Of the male population working full-time, 7.45% fell within the income range of under $24,999, while 11.49% of the female population working full-time was represented in the same income bracket.
• Annual income above $100,000: 24.99% of men in full-time roles earned incomes exceeding $100,000, while 13.02% of women in full-time positions earned within this income bracket.
• Refer to the research insights for more key observations on more income brackets ( Annual income under $24,999, Annual income between $25,000 and $49,999, Annual income between $50,000 and $74,999, Annual income between $75,000 and $99,999 and Annual income above $100,000) and employment types (full-time year-round and part-time)

https://i.neilsberg.com/ch/michigan-income-distribution-by-gender-and-employment-type.jpeg" alt="Michigan gender and employment-based income distribution analysis (Ages 15+)">

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2022 1-Year Estimates.

Income brackets:

• $1 to $2,499 or loss
• $2,500 to $4,999
• $5,000 to $7,499
• $7,500 to $9,999
• $10,000 to $12,499
• $12,500 to $14,999
• $15,000 to $17,499
• $17,500 to $19,999
• $20,000 to $22,499
• $22,500 to $24,999
• $25,000 to $29,999
• $30,000 to $34,999
• $35,000 to $39,999
• $40,000 to $44,999
• $45,000 to $49,999
• $50,000 to $54,999
• $55,000 to $64,999
• $65,000 to $74,999
• $75,000 to $99,999
• $100,000 or more

Variables / Data Columns

• Income Bracket: This column showcases 20 income brackets ranging from $1 to $100,000+..
• Full-Time Males: The count of males employed full-time year-round and earning within a specified income bracket
• Part-Time Males: The count of males employed part-time and earning within a specified income bracket
• Full-Time Females: The count of females employed full-time year-round and earning within a specified income bracket
• Part-Time Females: The count of females employed part-time and earning within a specified income bracket

Employment type classifications include:

• Full-time, year-round: A full-time, year-round worker is a person who worked full time (35 or more hours per week) and 50 or more weeks during the previous calendar year.
• Part-time: A part-time worker is a person who worked less than 35 hours per week during the previous calendar year.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Michigan median household income by gender. You can refer the same here

In 2023, about 26.9 percent of Asian private households in the U.S. had an annual income of 200,000 U.S. dollars and more. Comparatively, around 13.9 percent of Black households had an annual income under 15,000 U.S. dollars.

This paper argues that high marginal labor income tax rates on top earners are an effective tool for social insurance even when households have high labor supply elasticity, make dynamic savings decisions, and policies have general equilibrium effects. We construct a large scale overlapping generations model with uninsurable labor productivity risk, show that it has a realistic wealth distribution and numerically characterize the optimal top marginal rate. We find that marginal tax rates for top 1% earners of 79% are optimal as long as the model earnings and wealth distributions display a degree of concentration as observed in US data.