NPR : News

Filed Under:

Pew: Wealthiest Experience Big Boost In Post-Recession Worth

Some 93 percent of Americans saw their mean net worth fall in first two years of the post-recession recovery, while the remaining 7 percent increased net worth by nearly a third, according to a new a Pew Research Center analysis of Census Bureau data.

The upper 7 percent (8 million households) had net worth above $836,033 and the 93 percent (111 million households) represented households whose worth was at or below that. Not all households among the 93 percent saw a decline in net worth, but the average declined for that group. Pew says:

"From 2009 to 2011, the mean wealth of the 8 million households in the more affluent group rose to an estimated $3,173,895 from an estimated $2,476,244, while the mean wealth of the 111 million households in the less affluent group fell to an estimated $133,817 from an estimated $139,896.

These wide variances were driven by the fact that the stock and bond market rallied during the 2009 to 2011 period while the housing market remained flat."

During the study period, Standard & Poor's 500 stock index rose 34 percent, while the Standard & Poor's/Case-Shiller index for home prices fell 5 percent, the analysis noted.

Pew says that "among less affluent households, fewer directly owned stocks and mutual fund shares in 2011 (13 percent) than in 2009 (16 percent), meaning a smaller share enjoyed the fruits of the stock market rally."

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

MTV's Rewinding The '90s With A New Channel

The '90s are back! Pokémon has taken over the world again. A Clinton is running for president. And now, MTV is reviving '90s favorites like Beavis and Butt-head on a new channel, MTV Classic.
NPR

Salvage Supperclub: A High-End Dinner In A Dumpster To Fight Food Waste

The ingredients — think wilted basil, bruised plums, garbanzo bean water — sound less than appetizing. Whipped together, they're a tasty meal that show how home cooks can use often-tossed foods.
WAMU 88.5

The Politics Hour – LIVE from Slim's Diner!

This special edition of the Politics Hour is coming to you live from Slim's Diner from Petworth in Northwest D.C.

NPR

Writing Data Onto Single Atoms, Scientists Store The Longest Text Yet

With atomic memory technology, little patterns of atoms can be arranged to represent English characters, fitting the content of more than a billion books onto the surface of a stamp.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.