Top 1% Earners Hold More Wealth Than the U.S. Middle Class

After years of declines, America’s middle class now holds a smaller share of U.S. wealth than the top 1%.

The middle 60% of U.S. households by income -- a measure economists often use as a definition of the middle class -- saw their combined assets drop to 26.6% of national wealth as of June, the lowest in Federal Reserve data going back three decades. For the first time, the super rich had a bigger share, at 27%.

The data offer a window into the slow-motion erosion in the financial security of mid-tier earners that has fueled voters’ discontent in recent ...