For the bottom 40% by income that means a smaller slice of the pie even as their net worth has risen at the swiftest pace in years.
said Elise Gould, senior economist at the Economic Policy Institute, a Washington-based think tank focused on labor issues.
The newest data suggest that trends of higher wealth and income concentration survived pretty much intact.
Yet Dynan noted that the rise in wealth over that period was 30% for families in the 80th to 99th income percentiles and more than 40% for the top 1%.
Reuters GraphicsOLD TRENDS HOLD FASTThe Fed's quarterly data on wealth distribution estimates asset holdings and liabilities across racial, educational, age and income groups, and their shares of national totals.
Persons:
Elise Gould, They've, Biden, Karen Dynan, Dynan, Howard Schneider, Dan Burns, Paul Simao
Organizations:
Federal Reserve, U.S . Census Bureau, Economic Policy Institute, United Auto Workers, Harvard University, Thomson
Locations:
U.S, Washington