Economy

Charted: Disposable Income Growth of G7 Countries (2007-2024)

Published

3 weeks ago

March 6, 2025

Kayla Zhu

Article/Editing:

Niccolo Conte

Graphics/Design:

Joyce Ma

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Disposable Income Growth of G7 Countries from 2007-2024

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Household disposable income, a key economic marker of financial well-being and consumer purchasing power, has mostly risen across most G7 countries since 2007, but the pace of growth varies significantly.

Even amongst some of the world’s most advanced economies, some countries have struggled to keep up due to slow wage growth or prolonged economic stagnation.

This graphic shows the percent change in household disposable income per capita for each G7 country from 2007 to July 2024.

The data comes from the OECD, and Japan’s latest data is for January 2023.

Household disposable income is defined as the a household’s total income minus taxes, social security contributions, and liabilities. Figures are inflation-adjusted.

G7 Growth in Household Disposable Income Per Capita

Below, we show the change in household disposable income per capita from 2007 for each G7 country.

Year	🇩🇪 (% change)	🇮🇹 (% change)	🇫🇷 (% change)	🇨🇦 (% change)	🇯🇵 (% change)	🇺🇸 (% change)	🇬🇧 (% change)
2007 (base)	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2008	0.5	-0.9	1.0	2.1	-0.5	0.2	-1.8
2009	0.0	-3.2	1.0	3.7	-1.4	0.7	-2.5
2010	0.2	-6.5	2.6	7.1	0.1	-0.1	-0.1
2011	1.4	-6.2	3.0	7.2	-0.8	2.8	-4.4
2012	3.8	-10.8	2.4	8.1	0.0	4.1	-2.2
2013	1.6	-13.5	0.8	10.6	0.2	2.1	-3.4
2014	2.7	-13.2	1.1	11.0	0.2	3.9	0.5
2015	4.6	-12.2	2.0	13.9	-1.2	8.3	3.4
2016	6.6	-11.0	3.0	10.9	0.5	9.8	6.6
2017	8.4	-10.7	4.1	13.5	0.8	11.4	4.7
2018	10.9	-10.0	4.4	16.4	0.9	14.5	7.9
2019	11.8	-9.7	7.0	16.3	2.4	18.7	8.4
2020	11.6	-11.2	6.2	19.4	3.2	20.2	8.9
2021	11.7	-9.7	9.0	27.1	4.2	40.0	10.9
2022	13.7	-7.6	10.0	23.3	5.5	23.0	7.5
2023	12.3	-8.5	11.0	20.8	2.0	27.0	7.5
January 2024	14.4	-6.7	12.5	21.5		29.4	10.4
July 2024	14.9	-5.3	13.9	23.7		29.5	11.8

The U.S. and Canada saw the highest increases in average household disposable incomes from 2007 to 2024, rising by 29.5% and 23.7%, respectively—far outpacing the rest of their G7 counterparts.

The U.S. saw particularly strong growth in 2021, when disposable income surged 40% due to federal stimulus payments, expanded social benefits, and wage growth from post-pandemic job recovery.

Among the European G7 countries, Germany (14.9%), France (13.9%), and the UK (11.8%) experienced steady but more modest gains in disposable income over this period.

Japan recorded a minimal increase of 2.0% as of its latest available data in January 2023.

Italy stands out as the only G7 country where household disposable income has declined (-5.3%) since 2007, reflecting prolonged economic stagnation that have hampered income growth.

Learn More on the Voronoi App

To check out more comparisons of G7 countries, check out this graphic that visualizes the GDP per capita of G7 countries with the richest and poorest U.S. states.