Stock Market

American household wealth rises again

American household wealth rises again

However, the improvement in the situation did not affect everyone, which, according to experts, indicates an increase in economic inequality.

US household wealth hit a record high in the second quarter as the stock market rebounded quickly from the pandemic-driven fall in March.

However, it was mainly the wealthiest households who benefited from this, while tens of millions of people faced job losses and reduced incomes..

Total household net worth rose 7 percent in the second quarter to $ 119 trillion, according to the Federal Reserve.

That figure fell to $ 111.3 trillion in the first quarter as the coronavirus hit the economy and crashed the stock market.

The full recovery in prosperity, despite the fact that only about half of the jobs cut by the pandemic recession returned to the economy, according to many economists, underlines the increasing economic inequality in America..

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American household wealth rises again

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