July 2, 2016

Income inequality widens

Portland Press Herald

Financial inequality became even wider in the United States last year, with average income for the top 1 percent of households surging 7.7 percent to $1.36 million. Income for the richest sliver rose twice as fast as it did for the remaining 99 percent of households... Still, the incomes of households outside the top 1 percent appear finally to be recovering from the Great Recession, which officially ended seven years ago. After accounting for inflation, their average income rose 3.9 percent last year to $48,768 – the strongest annual gain since 1998.

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