Press Releases | Inequality and Poverty

News from EPI The top 1% recoups lost ground

For Immediate Release: Tuesday, March 6, 2012
Contact:
Phoebe Silag or Karen Conner, news@epi.org 202-775-8810

 

From Working Economics, the EPI blog:

The top 1% recoups lost ground

 by Lawrence Mishel, President of the Economic Policy Institute

Economist Emmanuel Saez updated his valuable series on income trends to include 2009 and 2010 and finds, not surprisingly, that those in the top 1 percent started seeing a strong recovery in 2010 and have recouped some of the ground lost in the downturn.

I reached the same conclusion a while back based on my analysis of wage data for the top 1 percent through 2010 which showed: the recession and financial crisis crunched the wages at the top from 2007 to 2009 but the top 1 percent experienced wage gains in 2010 while the bottom 90 percent actually saw losses.  READ FULL BLOG.