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And according to an April Pew Research Center report, "During the first two years of the nation's economic recovery, the mean net worth of households in the upper 7 percent of the wealth distribution rose by an estimated 28 percent, while the mean net worth of households in the lower 93 percent dropped by 4 percent".
This was similar to a finding by the Pew Research Center last month: "During the first two years of the nation's economic recovery, the mean net worth of households in the upper 7 percent of the wealth distribution rose by an estimated 28 percent, while the mean net worth of households in the lower 93 percent dropped by 4 percent".
To add insult to injury, another Pew report, released this week, found that "during the first two years of the nation's economic recovery, the mean net worth of households in the upper 7 percent of the wealth distribution rose by an estimated 28 percent, while the mean net worth of households in the lower 93 percent dropped by 4 percent".
Average, or mean, net worth in the $100,000-plus income group jumped to more than $1.7 million in 1998 from $1.4 million in 1995, a rise of 22percentt.
In contrast, the mean net worth of American households has increased by 60% since 1989, to $534,600, thanks to the soaring fortunes of those at the top (see chart 2).Efforts by the Fed to support the economy have bolstered stock and house prices, but the benefits have bypassed many households.
During that same period, the bottom 93percentt of households saw their mean net worth decline.
Similar(50)
Their average net worth: $3.26 billion.
"I mean, my net worth is many, many, many times Mitt Romney," Mr. Trump told CNN's Candy Crowley.
"But maybe what we've learned in recent years after the financial crisis is that sophisticated doesn't always mean high net worth".
I mean my net worth is many, many, many times Mitt Romney".
In the US that means a net worth of $1 million or more, or an income over $200,000 per year for at least two years.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com