Incomes Fall For All But Wealthiest Americans

Source: AP / CBS News

WASHINGTON – Fifty percent of U.S. workers earned less than $26,364 last year, and those earning less than $200,000 per year – roughly 99 percent of Americans – saw their earnings fall a collective $4.5 billion.
There were fewer jobs, and overall pay was trending down — except for the nation’s wealthiest, who saw a boost.

While the incomes of the top 1percent of the country rose slightly in 2010 (from $1,909,874 in 2009 to $2,196,124 last year), their collective wage earnings rose dramatically, by about $120 billion.

Those earning at least $1 million a year (93,725 of Americans) reported payroll income totaling $224 billion – a rise of 22 percent above 2009.

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