Median net worth for the wealthiest 40% of American households increased between 2000 and 2011, while the net worth for the bottom 60% decreased, according to new statistics released last week by the U.S. Census Bureau.
The result is a widening wealth gap, according to Distribution of Household Wealth in the U.S.: 2000 to 2011. Median household net worth decreased by $5,124 for households in the bottom net worth quintile (the poorest households) and increased by $61,379 (10.8%) for those in the highest quintile.
Median net worth of households in the highest quintile was 39.8 times higher than the second lowest quintile in 2000, and it rose to 86.8 times higher in 2011. In the northeast, the growth in wealth disparity was even more pronounced: in 2000 the median net worth of households in the highest quintile was 40 times that of the second lowest quintile, but rose to 102 times higher in 2011.
Click here to read the news from the Census Bureau.