Who has benefited from recent stock market gains

 

While more Americans own stock today than ever before, the truth is that the
majority of Americans still don't own any stock in any form, including
mutual funds and 401(k)-style pension plans. Furthermore, most of those who do own
stock don't own very much. This week's figure shows that almost all the
gains from the run-up in the stock market in the 1990s have gone to the
wealthiest 10% of households.

The top 1% of American households captured 42.5% of the stock market gains
between 1989 and 1997. The next 9% of households received 43.3% of the
total. This left just 14.2% of the benefits of the boom for the remaining
90% of American households.


Source: The State of Working America 1998-99.