Income inequality grows

Labor income has dropped as a share of total income earned in the United States, widening the gap between rich and poor, according to a study by the Cleveland Federal Reserve Bank. Cleveland Fed said labor's share of gross national income had declined to 63.8 percent now after fluctuating around 67 percent during the 1980s, 1990s, and early 2000s.

"...the decline made total income less evenly distributed and more concentrated at the top of the distribution, and this contributed to increase income inequality," it said.