If you’re looking for any sort of sign that the economy might not be as ill-fated as it occasionally appears, here’s something for you. A new study shows that, while the job market may be flat, the number of millionaires in the U.S. is on the rise, with the number of households worth at least $1 million up 16% from last year.
According to a Spectrem Group study, there are now 7.8 million millionaire households in the U.S., a big increase from last year’s total of 6.7 million households. This is a total net worth of the household that includes the value of all assets except their primary residence.
This comes only a year after a 27% drop in the previous year, which followed a record high of 9.2 million households in 2007.
Additionally, there was an increase of 17% in families worth at least $5 million and a 12% increase in households worth $500,000 or more.