"The latest data reinforces the larger story of America's middle-class household wealth stagnation over the past three decades,"<\/a><\/p>\nUsing the latest Federal Reserve data, the Pew Research Center said Wednesday that the median wealth for high-income families was $639,400 last year \u2014 up 7% from three years earlier on an inflation-adjusted basis.<\/p>\n
For middle-income families, the median wealth \u2014 that is, assets minus debts \u2014 stood at $96,500 last year, unchanged from 2010.<\/p>\n
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In Pew's definition, middle-income households are those earning between two-thirds and twice the median income, after adjusting for household size. The median marks the halfway point.<\/p>\n
For example, a one-person household was categorized as middle income if its earnings last year were at least $22,000 but less than $66,000. For a four-person family to qualify as middle income, earnings had to be at least $44,000 but less than $132,000.<\/p>\n
Based on these thresholds, 46% of American households were classified as middle income last year. One-third were considered lower income, and 21% upper income.<\/p>\n
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Seen over a longer period, the typical wealth of upper-income households in 2013 was about double what it was in 1983, after adjusting for inflation.<\/p>\n
For middle-income households, there was practically no change in wealth over the 30-year period. The median wealth for the middle class was $94,300 in 1983. That peaked at $158,400 in 2007 and has since retreated to $96,500.<\/p>\n
For lower-income households, wealth rose to a high of $19,100 in 2001, but has since fallen to $9,300 last year. Their median wealth was $11,400 in 1983.<\/p>\n","protected":false},"excerpt":{"rendered":"
Very interesting, and frustrating. From the LA Times business section. "The latest data reinforces the larger story of America's middle-class household wealth stagnation over the past three decades," Using the latest Federal Reserve data, the Pew Research Center said Wednesday that the median wealth for high-income families was $639,400 last year \u2014 up 7% from […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2376","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/2376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2376"}],"version-history":[{"count":1,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/2376\/revisions"}],"predecessor-version":[{"id":8254,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/2376\/revisions\/8254"}],"wp:attachment":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}