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Series Factoid #3: Disappearing Middle Class - Share of Income Received by Each Fifth of Households: 2002 to 2012

July 11, 2014 by in General

In 2012, the top 20% of households (Highest Fifth) were responsible for over 50% of the total income generated in the United States – the top 5 percent contributing 22.3% to the overall total. Although the Fourth Fifth quintile contributed 23.0% to the total income in 2012, the 60% of households below it only earned a combined share of 25.9%.

The Highest Fifth of households increased their share of income from 2002 to 2012 by growing from 49.7% to 51.0%, while the lower 80% of households all decreased their shares of the total income earned during the same 10 year span.

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[Trackback] 10 years ago

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FastFact: Top 20% Earn More than Half Total U.S. Incomehttp://furniturecore.com/HFBusiness/HFBNow/ArticleID/11659/top-20-earn-more-than-half-total-us-income.aspx

Home Furnishings Business 10 years ago

Thank you for bringing this to our attention. It is a rounding error that can occur when rounding to only the first decimal point. We apologize for any confusion.

Scott Poole 10 years ago

It is interesting that in a chart where figures are broken down to a tenth of a percent that the total percentages add up to 99.9% in one chart and 100.1 in the other. I realize two tenths of a percent is not much, but in the scheme of things, I have to wonder why! That is equal to 15% of the largest shift.