America’s upper middle class feeling the pinch too

NET WORTH as a share of the U.S. total has recently shrunk considerably for the upper middle class from 1989 to 2018. In one generation, U.S. wealth held by households from 50th to the 90th percentiles fell from 35.2 percent of the total to 29.1 percent. Most of this wealth has transferred to the top 1 percent of U.S. households. /BLOOMBERG NEWS FILE PHOTO/DAVID MCNEW/GETTY IMAGES
NET WORTH as a share of the U.S. total has recently shrunk considerably for the upper middle class from 1989 to 2018. In one generation, U.S. wealth held by households from 50th to the 90th percentiles fell from 35.2 percent of the total to 29.1 percent. Most of this wealth has transferred to the top 1 percent of U.S. households. /BLOOMBERG NEWS FILE PHOTO/DAVID MCNEW/GETTY IMAGES
NEW YORK - Newly available net worth data from the Federal Reserve suggests that the “left-behind” contagion has spread to all Americans aside from the top 10 percent. While still wealthier overall than most other groups, even the upper-middle class is feeling the pinch of income stagnation. The growth rate of this group’s incomes is…

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