Anecdotal evidence and general intuition tell me that the rich are not immune to the recession. But The Curious Capitalist begs to differ:

Bob Herbert’s column in yesterday’s New York Times pointed out that the unemployment crisis is not hitting all parts of the income spectrum equally. I was pretty stunned by the numbers, which go like this:

Range of incomes (by decile) Unemployment rate
$12,160 or less 30.8%
$12,160-$20,725 19.1%
$20,725-$29,680 19.7% 15.3%
$29,680-$39,000 12.2%
$39,000-$50,000 9.0%
$50,000-$63,000 7.8%
$63,000-$79,100 6.4%
$79,100-$100,500 5.0%
$100,150-$138,700 8.0% 4.0%
$138,700+ 3.2%
Advertisements