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Facts on the Distributions of Earnings, Income, and Wealth in the United States: 2007 Update

Quarterly Review 3411 | Published February 1, 2011

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Authors

Javier Díaz-Giménez

photo of José-Víctor Ríos-Rull

José-Víctor Ríos-Rull University of Pennsylvania

Andrew Glover Federal Reserve Bank of Kansas City

Facts on the Distributions of Earnings, Income, and Wealth in the United States: 2007 Update

Abstract

This article is largely a description of inequality of earnings, income, and wealth in the United States in 2007 as measured by the Survey of Consumer Finances (SCF). We look at inequality in relation to various characteristics such as age, education, employment status, marital status, and whether households are late payers or include bankruptcy filers. We also look at economic mobility. We compare these variables in 2007 with their values in our earlier study in 1998.