![]() ![]() A total of 25.5 million are currently receiving some form of government unemployment benefit. It’s the sixth consecutive week that new claims have exceeded 800,000. Last week, 840,000 people filed new unemployment claims. While many middle- and upper-middle-class Americans have been able to work from home and reap the rewards of a robust stock market via their retirement accounts, those near the bottom of the economic ladder have been battered by the Covid-19 pandemic, which has claimed the lives of more than 210,000 Americans and served to exacerbate financial inequalities. households have seen their wealth rise by almost ten percentage points (from less than 61% of all wealth to 69%), while the total wealth controlled by the bottom 50% has been cut nearly in half (from 3.6% to 1.9%). These numbers are in 2016 dollars and scaled to reflect a three-person household. For lower-income households, it was 25,624. The data provided by the Federal Reserve tracks back to 1989, and it shows that over the past three decades, the top 10% of U.S. The median income of middle-class households was 78,442 in 2016. The numbers have been trending in this direction for a long time. ![]() By this method, a household with a total income ranging. The Fed estimates that the wealthiest 10% of Americans hold more than 88% of all available equity in corporations and mutual fund shares (with just the top 1% controlling more than twice as much equity as the bottom 50% of all Americans combined). Middle class: 50,000 to 99,999 Upper middle class: 100,000 to 349,999 Rich: 350,000 Another method used by Pew Research Center to determine the middle class is to calculate whether income falls within two-thirds to double that of the national averagewhich is currently 63,179. ![]()
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