Growing Gap between Rich and Everyone Else

According to a recent Pew Research Center study, between the years of 2009 and 2011:

  • Average Net Worth per Household of richest 7% INCREASED by 28%
  • Average Net Worth per Household of other 93% DECREASED by 4%

PEW-HouseholdWealth-ChangedTitle

  • There are 8 million households in the upper 7% and their mean net worth in 2011 was $3,173,895
  • Of the 111 million households in the other 93%, mean net worth in 2011 was $113,817

The richest 7% of households owned 63% of all household wealth in 2011.

The income gap is also increasing

The top 20% of earners received half of all household income.

Between 1979 and 2007

Incomes for the richest 1% increased by a whopping 275%, while

Incomes for middle 60% of Americans increased only 40%.

Sources:

For Household Net Worth Data: Richard Fry and Paul Taylor  “A Rise in Wealth for the Wealthy; Declines for the Lower 93%,” Pew Research Center.

For Income Data: Pauline Jelinek, Associated Press, in “Pew: 93% of households lost net worth 2009-11,” USA Today, April 23, 2013.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s