Household Wealth Trends in the United States, 1962 to 2019: Median Wealth Rebounds... But Not Enough
Bibliographic record
Abstract
Median household wealth shot up by 21.2 percent in real terms between 2016 and 2019, as asset prices continued to rebound.However, 2007 still remains the watershed year, and median wealth was down 20.4 percent relative to 2007, though mean wealth more than fully recovered.There was a modest remission in wealth inequality, with the share of the top one percent down by 1.4 percentage points, that of the top 20 percent down by 1.0 percentage points, the Gini coefficient down by 0.008, and the mean wealth of the top one percent also down by 1.9 percent.The homeownership rate finally rebounded a bit, by 1.2 percentage points, to 64.9 percent.The stock ownership rate advanced by 0.4 percentage points to 49.6 percent, though still down from its 2001 peak.Though the mean debt of the middle class rose by 10.7 percent in real terms, the debtincome and debt-net worth ratios remained largely unchanged.The black-white gap in mean net worth remained unchanged, as did the Hispanic-white wealth gap.The wealth of households under age 35 continued to deteriorate in both absolute and relative terms between 2016 and 2019.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.002 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.001 | 0.001 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.005 | 0.002 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".