Meanwhile …… Back At The US Economy ……. Remember When People Claimed The Dims Were For The Little Guy?

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Fed: Median incomes drop for all but wealthiest

WASHINGTON (AP) — the Federal Reserve said Thursday in a report on consumer finances.

The Fed said that incomes declined for every other group from 2010 to 2013, widening the gap between the richest Americans and everyone else.

The report found that median incomes, adjusted for inflation, for the top 10 percent rose 2 percent, to $223,200 from $217,900. Median income fell 4 percent for the bottom 20 percent, to $15,200 from $15,800.

The information, from the Fed’s latest “Survey of Consumer Finances,” echoed findings of other studies of the impact of the Great Recession on American households. The very wealthy have benefited the most from gains in the stock market and housing values after the recession. But poor and middle-income people, who depend more on wages, have been hurt by sluggish growth in pay even after the downturn officially ended in…

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