The values are 15% share, 42% share and 42% share, respectively. The chart on the left shows the 1989 share of total pre-tax income for the bottom 50% of income earners, the middle 50% to 90%, and the top 10% of income earners. Sources: Federal Reserve Board’s Survey of Consumer Finances and authors’ calculations.ĭescription: This figure includes two pie charts. Notes: Totals may not equal 100% due to rounding. Let’s examine how income inequality has changed from 1989 to 2016, the earliest and latest years for which Survey of Consumer Finances data are available. Income is a fairly common indicator of financial well-being. Dollar values in all figures and text are adjusted with the Consumer Price Index for All Urban Consumers (CPI-U) to 2016 dollars (i.e., inflation-adjusted to represent comparable values or “real terms”). Using data from the Federal Reserve Board’s Survey of Consumer Finances, we discuss trends in a series of charts and discuss pathways toward building that security.
We also find that many families across the board are striving for more economic security. We find that families who are struggling tend to have one or more of these characteristics: black or Hispanic no four-year college degree and/or younger. We find that families who are thriving tend to be white, college-educated and/or older. We believe this demographic lens is more informative than looking at wealth by income bands, because while income can (and frequently does) change from year to year, demographics are more stable.
Louis Fed’s Center for Household Financial Stability looks at the relationship between wealth and different demographic characteristics: race or ethnicity, education, and age or birth year. The following charts help to illustrate the state of wealth inequality in America. For an updated analysis of wealth inequality in the U.S., see Has Wealth Inequality in America Changed over Time? Here Are Key Statistics, which was published Dec.
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