April 10, 2021

...AND RICHER...:

The Comeback of the Bottom HalfYes, they've got a long way to go to recover lost ground. But the improving financial strength of the less-affuent 50% of U.S. households is still a big deal. ( Justin Fox, April 9, 2021, Bloomberg)

Which part of the U.S. wealth distribution saw its net worth rise the fastest over the past year, five years and decade? No, not the top 1%, according to the distributional financial accounts published last month by the Federal Reserve.

The rich had a great run, but they didn't even come close to the percentage gains in real wealth seen by the bottom 50%. These amounted to 21.9% over the past year, 125.6% over five years and 526.2% over 10 years, compared with the one-percenters' 10.3%, 33.8% and 83.9%.

Posted by at April 10, 2021 12:00 AM

  

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