Unless you have investments paying dividends or capital gains, many Americans are unable to source enough income to live comfortably. This is according to a report from Statista, which highlights the growing disparity between wage levels among American residents. 

According to the report, the highest earning professionals in the U.S. in 2020 were anesthesiologists at a median annual pay of $271,441. For those whose wages are impacted by inflation or recession, experts believe, creates consumption power, where the wealthy outpace the poor. 

Real wages, adjusted for inflation, show that income increases have been slow since the turn of the century. The average annual real wages in the U.S. was 69,392, up marginally from $55,366 in 2000. 

According to the Society for Human Resources Management, employers in the U.S. plan to boost salaries an average of 4.6 percent in 2023, up from 4.2 percent this year, according to a new study. However, this is far below the 8 percent to 10 percent additional compensation budget that would be required to address the issue of inadequate compensation.

"As inflation continues to rise and the threat of an economic downturn looms, companies are using a range of measures to support their staff during this time," according to Hatti Johansson, a research director for reward data intelligence at WTW consultancy. 

Americans between the ages of 45 and 54 earn the highest weekly income of any age group, averaging $1,260. This is in sharp contrast to those between the ages of 20 to 24 who earn on average $648 weekly. 

The report highlights the concern about a growing inequality between genders and ethnic groups in relation to full time wages and salary. In 2021, the highest earning cohort was Asian men who on average earned $1,453 U.S. dollars per week, while Asian women earned $1,141 U.S. dollars per week. This is in contrast to the average Hispanic woman who earned $718 per week.

"Organizations should prioritize their actions based on the needs of both employers and employees," said Johansson. “And pay close attention to market data to inform any changes.”