NewsFlash: October 11, 2006
Stock Boom Means Little For Most Workers
Just last week, the Dow Jones regained its prior peak level first reached in 2000. But that good news on Wall Street meant little for typical U.S. workers, as the wealthiest 10% of Americans own nearly 80% of the value of all stocks.
In this week’s Snapshot, Economic Policy Institute economist Sylvia Allegretto examines the share of households owning stock and the distribution of stock market wealth by wealth class from 1989 to 2004. Her findings illustrate a persistence of inequality in stock holdings over time. And, in 2004, less than half of households were invested in stock of any form.
Click here for the Snapshot.