Movin’ Up and Down The Income Quintiles in 2 Yrs.
Submitted by CARPE DIEM
From the Census Bureau: Of households in the lowest income quintile in 2001, 28.6% were in a higher quintile in 2003; of those originally in the highest income quintile, 32.1% were in a lower quintile 2 years later.
In other words, in just a two-year period, 2 out of every 7 households in the lowest income quintile (bottom 20%) in 2001 moved up to a higher income group by 2003, and almost 1 out of every 3 households in the top income quintile in 2001 moved to a lower income group by 2003, suggesting significant income mobility over even very short periods of time.
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