Most Americans Worse Off Than Before Great Recession

Most Americans Worse Off Than Before Great Recession

Most Americans Worse Off Than Before Great Recession

Newly released income and wealth data from the Federal Reserve Board’s triennial Survey of Consumer Finances show that America’s richest families enjoyed gains in income and net worth over the last decade.

The Big Q: Not part of the Top 10%?

The Big A: Then your income probably fell.

The data show that families ranked in the highest percentile saw an income gain of $16,300 from Y’s 2007 to 2016. Those below are still making less money.

When it comes to wealth, the gap is even bigger.

In Y 2007, fully 50% of families had a net worth of $139,700 or more than 50%  fell below this mark.

By Y 2016, the midpoint dropped to $97,300, a decliner of $42,600.

Families ranked in the Top 10% of net worth have enjoyed a sizable gainers since Y 2007: a $132,100 rise in net worth to reach almost $1.20-M.

Percentile of Usual Income 2007 2016    %Chg    $Chg
30 $26,000 $25,300 -2.7% -$700
40 $44,700 $43,500 -2.7% -$1,200
60 $71,500 $69,500 -2.8% -$2,000
80 $113,700 $111,400 -2.0% -$2,300
90 $160,800 $177,100 10.1% $16,300
Percentile of Net Worth 2007 2016    %Chg    $Chg
25 $16,400 $10,300 -37.2% -$6,100
50 $139,700 $97,300 -30.4% -$42,400
75 $431,700 $369,100 -14.5% -$62,600
90 $1,054,200 $1,186,300 12.5% $132,100

Note: Years refer to year of survey.

So much for The Hussein Obama Era’s blessing on the vast majority of Americans.

Stay tuned…

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