Table 6.3
Change in average wealth, by wealth group, 1962–2010 (thousands of 2010 dollars)
| Change | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Wealth group* | 1962 | 1983 | 1989 | 1998 | 2001 | 2007 | 2010 | 1962–1983 | 1983–2007 | 2007–2010 | 1983–2010 |
| Average | $194.2 | $284.4 | $325.8 | $361.5 | $468.1 | $563.8 | $463.8 | 46.5% | 98.2% | -17.7% | 63.1% |
| Median | 51.9 | 73.0 | 78.2 | 81.2 | 90.5 | 107.8 | 57.0 | 40.7 | 47.5 | -47.1 | -22.0 |
| Bottom four-fifths | $46.2 | $66.4 | $67.1 | $75.1 | $91.1 | $105.5 | $64.2 | 43.6% | 59.0% | -39.1% | -3.2% |
| Bottom | -7.1 | -4.3 | -24.6 | -11.8 | -10.1 | -14.1 | -27.5 | — | — | — | — |
| Second | 9.2 | 16.8 | 13.7 | 14.9 | 17.2 | 18.7 | 5.5 | 81.9 | 11.5 | -70.7 | -67.3 |
| Middle | 52.7 | 74.2 | 78.7 | 81.6 | 92.3 | 111.5 | 61.0 | 40.8 | 50.1 | -45.3 | -17.9 |
| Fourth | 130.1 | 178.7 | 200.7 | 215.8 | 265.1 | 306.0 | 216.9 | 37.4 | 71.2 | -29.1 | 21.4 |
| Top fifth | $785.8 | $1,156.5 | $1,360.6 | $1,507.3 | $1,975.8 | $2,396.7 | $2,061.6 | 47.2% | 107.2% | -14.0% | 78.3% |
| 80th–<90th percentile | 271.4 | 372.9 | 422.6 | 461.3 | 603.7 | 675.1 | 567.0 | 37.4 | 81.1 | -16.0 | 52.1 |
| 90th–<95th percentile | 480.3 | 690.5 | 756.6 | 834.0 | 1,154.2 | 1,263.4 | 1,263.4 | 43.8 | 83.0 | 0.0 | 83.0 |
| Top 5% | 2,120.2 | 3,189.9 | 3,840.8 | 4,272.5 | 5,541.7 | 6,973.2 | 5,841.9 | 50.5 | 118.6 | -16.2 | 83.1 |
| 95th–<99th percentile | 1,027.6 | 1,587.7 | 1,757.0 | 1,928.0 | 3,020.3 | 3,845.0 | 3,192.5 | 54.5 | 142.2 | -17.0 | 101.1 |
| Top 1% | 6,490.6 | 9,598.6 | 12,176.0 | 13,650.2 | 15,627.3 | 19,486.1 | 16,439.4 | 47.9 | 103.0 | -15.6 | 71.3 |
* Wealth defined as net worth (household assets minus debts)
Source: Wolff (2012)
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