this post was submitted on 25 Oct 2023
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Mean American household is now a millionaire, according to the Federal Reserve (finance.yahoo.com)
submitted 1 year ago by haxor@derp.foo to c/hackernews@derp.foo
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[–] Towercycle@lemmy.world 8 points 1 year ago (1 children)

Cool. Now do median.

[–] sensiblepuffin@lemmy.world 2 points 1 year ago (1 children)

Read:

Even when looking at the median—another measure of the average, which represents the midpoint in the ranking and is less likely to be skewed by exceptionally high or low numbers—the typical American household was worth $192,900.

Although that figure is less exciting for aspirational workers, it still represents an impressive after-inflation gain of 37% over three years.

The mean is substantially higher than the median because it is boosted by the top 10% of earners, who have a net worth, on average, of $6.63 million, according to the Fed."

[–] Exeous@lemmy.world 2 points 1 year ago

I think point he make is median lower by much.