Income gap grows
The government is reporting that 50 percent of U.S. workers earned less than $26,364 last year, reflecting a growing income gap between the nation's rich and poor.
According to the Social Security administration, there were fewer jobs, and overall pay was trending down - except for the wealthiest Americans. The number of people making $1 million or more soared by over 18 percent from 2009. There were 5.2 million fewer jobs in 2010 than in 2007, when the deepest recession since the 1930s began.
The payroll figures are based on W-2 forms submitted by employers to the IRS. The figures were posted by Social Security on its website as demonstrations raged on Wall Street and across the country protesting high unemployment and a growing income gap.
RecommendedRecent Facebook Activity
Only On 7
"Like" ABC7 on facebook and you can win $700 in groceries delivered to your door, thanks to Peapod by Giant! Enter daily before 4pm Friday! Plus, you can receive 2 additional entries for each friend who enters!
TBD Blogs What you need to read
The Market Report
@TBD On Foot
Best of TBD In case you missed it
No one knows quite what Klout is, but these big 'myopic little twits' appear to have it.