The latest Census Bureau data on incomes and poverty show just how far NYC has slipped from pre-pandemic levels in relation to the U.S. overall and the nation’s largest cities

The September 14 release of the Census Bureau American Community Survey (ACS) data on household income and poverty levels for 2022 provides fairly definitive confirmation of New York City’s lagging recovery from the disruptive economic impact of the Covid-19 pandemic. 

Comparing major Census indicators for 2019 and 2022 provides a clear picture: New York City is far from economically recovered. New York City inflation-adjusted household incomes have fallen more than in the nation overall, and by the most among the 10 largest U.S. cities. The story is similar when it comes to poverty and child poverty. Both have increased more in New York City over the past three years than in the U.S. or among the 10 largest cities with one exception: child poverty increased faster in Houston than here. 

The New York Times prominently cited our report and its key findings in a recent article on the 2022 ACS data. The Times article noted that the lack of any minimum wage adjustment in New York City since 2019 was a factor in the city’s faltering median income and rising poverty data. Five of the 10 largest cities had average minimum wage increases of 25 percent between 2019 and 2022, including Phoenix which had the greatest increase (7.9 percent) in median household incomes and the largest poverty decline among the largest cities over that period.

The latest Census data also confirm that there are extremely wide racial and ethnic median income differences in New York City, and that poverty rose much faster for NYC Blacks and Hispanics than for whites. Finally, the 2022 ACS data indicate that income inequality in NYC, as measured by the Gini index, is the highest among the 10 largest cities, and that inequality increased more from 2019 to 2022 than in the nation overall or in any other large city.

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