Changes in U.S. Family Finances from 2013 to 2016: Evidence from the Survey of Consumer Finances

Jesse Bricker, Lisa Dettling, Alice Henriques Volz, Joanne Hsu, Lindsay Jacobs (), Kevin B. Moore, Sarah Pack, John Edward Sabelhaus (), Jeffrey Thompson and Richard Windle
Additional contact information
Jesse Bricker: https://www.federalreserve.gov/econres/jesse-bricker.htm
Alice Henriques Volz: https://www.federalreserve.gov/econres/alice-henriques-volz.htm
Lindsay Jacobs: https://lafollette.wisc.edu/faculty-staff/faculty/lindsay-jacobs
Kevin B. Moore: https://www.federalreserve.gov/econres/kevin-b-moore.htm

Federal Reserve Bulletin, 2017, vol. 103, issue 3

Abstract: Evidence from the Survey of Consumer Finances The Federal Reserve Board's Survey of Consumer Finances for 2016 provides insights into the evolution of family income and net worth since the previous time the survey was conducted, in 2013. The survey shows that, over the 2013-16 period, the median value of real (inflation-adjusted) family income before taxes rose 10 percent, and mean income increased 14 percent. Real median net worth increased 16 percent, and mean net worth increased 26 percent. The data also indicate that gains in income and net worth are broad based, occurring across many different types of families, whether grouped by economic characteristics such as income and wealth or by demographic characteristics such as age, education, or race and ethnicity. However, the data also indicate that inequality continued to grow between 2013 and 2016, with large gains in income and net worth accruing to the highest-earning and wealthiest families. This article reviews these and other changes in the financial condition of U.S. families, including developments in assets, liabilities, debt payments, and credit market experiences.

Date: 2017
References: Add references at CitEc
Citations: View citations in EconPapers (17)

Downloads: (external link)
https://www.federalreserve.gov/publications/2017-S ... rom-2013-to-2016.htm (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgrb:89524

Ordering information: This journal article can be ordered from

DOI: 10.17016/bulletin.2017.103-3

Access Statistics for this article

More articles in Federal Reserve Bulletin from Board of Governors of the Federal Reserve System (U.S.) Contact information at EDIRC.
Bibliographic data for series maintained by Ryan Wolfslayer ; Keisha Fournillier ().