Young worker households—those between ages 35 and 44 and age 35 and younger—saw the steepest drop in their net worth between 2007 and 2010, according to an Economic Policy Institute (EPI) analysis of last week's Federal Reserve report.
The richest 5 percent in the United States now own 65 percent of the nation’s wealth—making the wealth gap even more unequal here than the already gaping income gap. A new report by the Economic Policy Institute (EPI) cites foreclosures and falling housing values as contributing to the devastation of the net worth—the wealth—of millions of U.S. households.
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