From Home Furnishing Business
FastFact: The Wealthiest Grew Income by 11% in 5 Years
The wealthiest 5 percent in the U.S. maintained a steady growth rate for the five years between 2007 and 2012.
During the five-year span, the top 5 percent experienced an 11 percent increase in mean household income, which also resulted in an increase in the income gap separating the group from the rest of the population.
The top fifth earned the majority of its income growth in the five-year period between 2002 and 2007, still following up with an 8 percent increase in the next five years.
The fourth quintile reported an 18 percent increase between 2002 and 2007. The group's income growth dropped dramatically to 4 percent between 2007 and 2012.
The second and third quintile income groups had a promising start in the earlier part of the 10-year span between 2002 and 2012, with a 16.5 percent income increase, but in the most recent five-year period the group posted a minimal growth of 1.5 percent.
The lowest fifth of households experienced a 16-percent increase in income between 2002 and 2007, and then, between 2007 and 2012, this group's income dropped 1 percent.
The growth trends for the 10-year period from 2002 to 2012 is available online.