Household net worth fell to 760% in 1Q23, the fastest decline since 4Q08.

As of 1Q23, household net worth as a % of disposable personal income fell to 760%, down from 840% a year earlier … in year/year terms (not % change, just a change in %, orange), fastest decline since 4Q08 pic.twitter.com/EL2IIQfCWq

— Liz Ann Sonders (@LizAnnSonders) June 12, 2023

The lowest-earning quartile of workers is experiencing a slowdown in wage growth, while the highest-earning quartile has not seen any slowdown.

Lowest-earning quartile of workers (blue) starting to see decisive rolling over in wage growth (though still strong relative to history) … highest-earning quartile (orange) hasn’t seen any slowdown in growth pic.twitter.com/RwTBBJwMyl

— Liz Ann Sonders (@LizAnnSonders) June 12, 2023