US middle class gets richer, but wealthy do even better
WASHINGTON (AP) — Most American families grew richer between 2013 and 2016, but the wealthiest households pulled even further ahead, worsening the nation's massive disparities in wealth and income.
The median net worth of all American families rose 16 percent last year from 2013 to $97,300, according to a Federal Reserve survey released Wednesday. The median is the point where half of families fall below and half above.
The figures echo recent data released earlier this month from the Census Bureau that also showed middle-class incomes rising. For roughly the first five years of the economic recovery that began in 2009, higher-earning households reaped most of the gain.