MIDDLE CLASS SHARE OF INCOME SHRINKING
August 2, 2004
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Wages haven’t kept up with inflation. Inflation-adjusted average weekly wages were $525.84 in June, vs. $529.49 in November 2001, when the recession officially ended.
The middle fifth of all households — the middle middle class — accounted for 15.8% of the nation’s income in 1992. That had fallen to 14.8% by 2002. During the same period, the wealthiest fifth of all households saw their share of the nation’s income rise to 49.7% from 46.9%.
SOURCE: John Waggoner, USA Today
