During the first two years of the economic recovery, the rich got richer, while the lower 93% of Americans saw their mean household net worth fall 4% to $133,000. According to Pew, the wealthiest 7% saw their mean household net worth jump 28%, hitting more than three million dollars in 2011.
Researchers attribute the uneven recovery to the fact that affluent households own more stocks and other financial holdings that have been growing in worth. At the same time, the housing market, which is the biggest investment for many people in the lower 93%, has remained flat.
Christine Romans details the report results and discusses the impact a fake Associated Press tweet had on the market in today's Minding Your Business segment.