The decline in the middle-class share is not a total sign of regression. On balance, there was more movement up the income ladder than down the income ladder. But middle-class incomes have not grown at the rate of upper-tier incomes. Incomes are expressed in dollars. More tepid growth in the income of middle-class households and the reduction in the share of households in the middle-income tier led to a steep fall in the share of U.
These trends in income reflect the growth in economic inequality overall in the U. Even among higher-income families, the growth in income has favored those at the top. This disparity in outcomes is less pronounced in the wake of the Great Recession but shows no signs of reversing. From to , the change in mean family income ranged from a loss of 0. Thus, the s marked the beginning of a long and steady rise in income inequality. A similar pattern prevailed in the s, with even sharper growth in income at the top.
The period from to is unique in the post-WWII era. Families in all strata experienced a loss in income in this decade, with those in the poorer strata experiencing more pronounced losses.
The pattern in income growth from to is more balanced than the previous three decades, with gains more broadly shared across poorer and better-off families. Other than income, the wealth of a family is a key indicator of its financial security. Wealth, or net worth, is the value of assets owned by a family, such as a home or a savings account, minus outstanding debt, such as a mortgage or student loan.
Accumulated over time, wealth is a source of retirement income, protects against short-term economic shocks, and provides security and social status for future generations. The period from the mids to the mids was beneficial for the wealth portfolios of American families overall.
Housing prices more than doubled in this period, and stock values tripled. But the run up in housing prices proved to be a bubble that burst in Home prices plunged starting in , triggering the Great Recession in and dragging stock prices into a steep fall as well.
The wealth gap among upper-income families and middle- and lower-income families is sharper than the income gap and is growing more rapidly. The period from to was relatively prosperous for families in all income tiers, but one of rising inequality.
Figures are expressed in dollars. The wealth gap between upper-income and lower- and middle-income families has grown wider this century. As of , upper-income families had 7. These ratios are up from 3. The reason for this is that middle-income families are more dependent on home equity as a source of wealth than upper-income families, and the bursting of the housing bubble in had more of an impact on their net worth.
Upper-income families, who derive a larger share of their wealth from financial market assets and business equity, were in a better position to benefit from a relatively quick recovery in the stock market once the recession ended. As with the distribution of aggregate income, the share of U. The richest families in the U. Corporate Account. Statista Accounts: Access All Statistics. Basic Account. You only have access to basic statistics.
Single Account. The ideal entry-level account for individual users. Corporate solution including all features. Statistics on " Wage inequality in the U. The most important statistics. Further related statistics. Wealth in the U. Further Content: You might find this interesting as well.
Statistics Wealth in the U. Learn more about how Statista can support your business. Credit Suisse. October 3, Wealth distribution in the United States in [Graph]. In Statista. In the United States, wealth inequality runs even more pronounced than income inequality. As ordinary people around the world suffer from the health and economic impacts of the pandemic, billionaires have actually seen their fortunes expand. Of the more than U.
We will be regularly updating this analysis here. In , the three men at the top of that list — Amazon founder Jeff Bezos, Microsoft founder Bill Gates, and investor Warren Buffett — held combined fortunes worth more than the total wealth of the poorest half of Americans. You can find more background on these numbers in our report, Billionaire Bonanza Since , just seven men have held this spot: shipping magnate Daniel Ludwig , oil executive Gordon Getty , Walmart founder Sam Walton , media company owner John Kluge , Microsoft founder Bill Gates , except , investor Warren Buffett , and Amazon founder Jeff Bezos In , the tax share of the top.
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