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Top 1% of U.S. Earners Now Hold More Wealth Than All of the Middle Class

  • Middle-class financial security has eroded in past decades
  • Top 1%’s wealth jumped to a record 27% of the total: Fed data
Bloomberg business news
Why the Global Middle Class Is Shrinking

After years of declines, America’s middle class now holds a smaller share of U.S. wealth than the top 1%.

The middle 60% of U.S. households by income -- a measure economists often use as a definition of the middle class -- saw their combined assets drop to 26.6% of national wealth as of June, the lowest in Federal Reserve data going back three decades. For the first time, the super rich had a bigger share, at 27%.