Wealthiest Households Accounted for more than 80% of Postrecession Rise in Incomes

This continued the trends already established before the recession/depression.

http://blogs.wsj.com/economics/2014/04/17/wealthiest-households-accounted-for-80-of-rise-in-incomes-in-recessions-aftermath/?mod=WSJBlog

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A recent article by Labor Department senior economist Aaron Cobet highlights the sharp disparity between the wealthiest and poorest Americans in the aftermath of the 2007-2009 recession.

“While average income has returned to pre-recession levels, income gains have been distributed unevenly,” Mr. Cobet said.

The economist mined Labor Department data to show that the top 20% of earners accounted for more than 80% of the rise in household income from 2008-2012. Income fell for the bottom 20%.

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The International Monetary Fund has warned that rising income inequality is weighing on global growth.

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