Fact Check: "The average American household income was about $70,000 in 2021."
What We Know
In 2021, the median household income in the United States was reported to be approximately $70,000. According to the U.S. Census Bureau, the median household income was $74,580 in 2021, which is slightly above the claimed figure but aligns closely with the general understanding of average incomes during that year (Census.gov). The Census Bureau's report is based on data collected from the Current Population Survey Annual Social and Economic Supplements (CPS ASEC), which provides comprehensive statistics on income, earnings, and inequality in the U.S. (Census.gov).
Additionally, the U.S. Bureau of Labor Statistics (BLS) also provides data on household income, confirming similar figures for the year 2021. The BLS reported that the average household income aligns with the Census Bureau's findings, reinforcing the credibility of the reported income levels (BLS.gov).
Analysis
The claim that the average American household income was about $70,000 in 2021 is supported by credible sources, including the U.S. Census Bureau and the Bureau of Labor Statistics. The Census Bureau's report indicates that the median household income was $74,580, which is a key indicator of income levels in the U.S. and is often used to represent the "average" household income due to its resistance to skewing from extreme values (Census.gov, Census.gov).
While the claim states "about $70,000," it is important to note that the median household income is often rounded for simplicity in public discussions. The slight discrepancy between the claim and the actual reported figure (approximately $4,580 higher) does not significantly undermine the claim's validity, as it falls within a reasonable range of approximation.
Moreover, the data from the BLS corroborates the Census Bureau's findings, which adds an additional layer of reliability to the information presented (BLS.gov). Both sources are authoritative and widely recognized for their statistical accuracy, making them credible references for income data.
Conclusion
Verdict: True
The claim that "the average American household income was about $70,000 in 2021" is true, as it closely aligns with the reported median household income of $74,580 by the U.S. Census Bureau. The slight difference in figures does not detract from the overall accuracy of the claim, as it is within a reasonable range of approximation.
