Personal income is on the rise and projected to be nearly 30% higher by 2025, but inflation will reduce actual growth to near nothing, according to projections by Gabriel Ehrlich and Daniil Manaenkov during the Jan. 13 Consensus Revenue Estimating Conference. The University of Michigan duo presented during their Research Seminar in Quantitative Economics that personal income will continue to rise through 2025, after a brief stagnant period in 2021 and 2022 that Ehrlich likened to “treading water.” They said by 2025, personal income will be much higher than pre-pandemic levels, from an average of around $50,000 to $64,000. But
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