Number of Millionaires in U.S. Reaches a New High-Labor Participation Very Low
The LGF audience is not one that requires further proof of the nature of the economic recovery since the Great Recession. But a couple numbers are out that are just glaring, arguably insulting or offensive when taken together. But we do get a lot of visitors than just breeze through our Pages. This Page is for anyone who simply does not grasp the scale of how top loaded the recovery has been.
Number of Millionaires in U.S. Reaches a New High
By Walter Hamilton
March 13, 2014, 11:49 a.m.
There are more millionaires in the United States than ever before.
The number of households with net worth of $1 million or more, excluding their homes, is at a record 9.63 million, according to a new report.
That eclipses the old mark of 9.2 million in 2007 before the global financial crisis, according to the Spectrem Group research firm. The tally of millionaires slipped to 6.7 million in 2008 as the financial crisis struck.
The study reinforces other data showing that the wealthy are doing well compared to many other segments of society.