NextGen

Report: One Third of Income Concentrated in 10 Percent of Country

A recent report has found that about 30 percent of disposable personal income is held by the top 10 percent of households in the country, according to Bloomberg. The data, from the Bureau of Economic Analysis, found that the top 10 accounted, specifically, for 33 percent of income nationwide. This concentration is only a little bigger than it was in the year 2000, when these households accounted for 30.9 percent of personal disposable income. Conversely, the bottom 30 percent accounted for just 10 percent. 

Other BEA data shows that, in the third quarter, state personal income increased 2.6 percent at an annual rate in the third quarter of 2021 after decreasing 20.2 percent in the second quarter. Meanwhile, earnings increased 9.3 percent in the third quarter of 2021. Given the above proportions, it is likely much of this gain filtered up to wealthier households.