Friday, May 31, 2013
Average U.S. household still less than halfway towards regaining its wealth after the Great Recession of 2007
The typical household has regained less than half its wealth, the analysis found. A separate Federal Reserve report in March calculated that Americans as a whole had regained 91 per cent of their losses.
Household wealth plunged $16 trillion from the third quarter of 2007 through the first quarter of 2009. By the final three months of 2012, American households as a group had regained $14.7 trillion.