In what is beginning to sound like a "Dog Bites Man" story from the
WSJ:
The rich got richer, the poor got poorer.
A recent article by
Labor Department senior economist Aaron Cobet highlights the sharp
disparity between the wealthiest and poorest Americans in the aftermath
of the 2007-2009 recession.
“While average income has returned to pre-recession levels, income gains have been distributed unevenly,” Mr. Cobet said.
The economist mined Labor Department data to show that the top 20% of
earners accounted for more than 80% of the rise in household income
from 2008-2012. Income fell for the bottom 20%.
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