by Jonathan Ponciano
Forbes
While unemployment has remained stubbornly above pre-pandemic levels, record highs in the stock market have pushed the net worth of all households in the U.S. to a new high, despite the fast growth in household debt.
Key Facts
– The net worth of households in the United States climbed to $123.5 trillion in the third quarter, up 8% from a year ago, the Federal Reserve said in a report Wednesday.
– The Fed, which calculates net worths by subtracting overall debt held from the sum of assets like savings and equities, attributed the gains to the surging value of stocks, which jumped $2.8 trillion in the third quarter, as well as real estate, which increased in net value by $400 billion.