Study: Recession and Recovery Widen U.S. Wealth Gap

WASHINGTON (AP) -

The Great Recession and the slow recovery have sharply widened the gap between the wealthiest Americans and everyone else, according to a study that underscores the unevenness of wealth gains since the recession ended.

The richest 5 percent had 24 times the wealth of the median household in 2013 — up substantially from 16.5 times as much in 2007, according to a study by University of Michigan researchers.

Substantial gains in the stock market have enabled richer Americans to regain much of their wealth. Stock prices had plunged by nearly half during the recession but have recovered all their losses and set new highs. And roughly 10 percent of households own 80 percent of stocks.