The top one percent of earners made an average of $1.5 million more per year than the bottom 40 percent in 2014, according to a report released on Wednesday.
That’s an increase of 8.2 percent from the previous year.
And the biggest increases came for CEOs, who took home an average $1,958,964, and managers, who made $1 and $1 million more, respectively.
The top 1 percent earned nearly $1 trillion more than the rest of the population in 2014.
That figure, based on data from the U.S. Census Bureau, represents an increase in total compensation of 7.1 percent from last year, and more than double the 2 percent increase in the bottom half of the income distribution.
The top 1.5 percent also saw a 10.9 percent increase over last year’s median income of $45,500, and a 21.4 percent increase for the bottom 50 percent.
That’s a significant increase, especially since the bottom 25 percent of households are now earning less than half of what the top 1,000 made in 2014– a fact that many economists argue will make the gap even larger.
But even as wages for the top one-tenth of the American population have continued to rise, the incomes of the bottom 90 percent of Americans have stagnated, the report found.
In the top 10 percent of American households, median family income is down 13.3 percent over the last decade.
That is the lowest it has been since 1979.
The lowest-earning 10 percent now makes about half of all household income, according the report.
While that’s bad news for many families, it’s even worse for low-income families.
The report said the average income for a family of four making $40,000 a year has declined by 3.3 percentage points since 2014.
The average income is just 1.7 percentage points lower for a middle-income family.
And it’s 7.5 percentage points below the average for a lower-income couple.
That makes a family that makes $18,000 or less a household with an income of just $27,000, according the report.