New data suggests the long-standing gap between lower-income and higher-income workers is narrowing in key areas, even if the broader wealth divide remains firmly in place, impacting the "k-shape" recovery of the economy as of late.
For years, economists have described the U.S. recovery as "K-shaped," meaning higher-income households benefited disproportionately from rising asset values, stronger investment returns and housing appreciation, while many lower-income Americans struggled with higher living costs and limited wealth accumulation.
