Archive for the ‘Inequality’ Category

Income Share of Top 1% by Geographic Region

February 4, 2015

Income share of top 1% by geographical location

According to Economic Policy Institute, the Northeastern United States holds the highest share of the top 1% income, followed by the West Coast. The Midwest holds the lowest share.

–Source The Economic Policy Institute

 

 

Western Middle Classes Have Stagnating Incomes Compared to Emerging Markets

January 5, 2015

This chart shows the growth of real income growth (y axis) against percentile of global income distribution. While the middle classes of emerging markets have seen enormous gains in the past generation, Western middle class incomes, including the US, have significantly stagnated in comparison.

–from the New York Times

Median American Household Lost 40% of Wealth since 2007

December 16, 2014

Americans have 40% less net worth than before the recession, dropping from a median $135,700 in 2007 to $81,400. White households lost 26% of their net worth. Black households fared much worse, with their median net worth dropping 43%, while the median Hispanic-American household’s worth dropped 42%.

–from MarketWatch.com

Arts Majors Face Increased Student Loan Burdens after College

November 26, 2014

Graduates across all majors have similar loan amounts after graduation  However, payment is a heavier burden for students who graduate with degrees in arts, sports, or humanities.  After graduation, salaries increase by an average of 65% in the first five years. However, non-career-oriented degrees start at much lower wages (x axis in the chart above) and thus pay a significantly higher percentage of their income in loan payments.

–from The Atlantic

Low Taxes in the US Causing Income Inequality to be High

November 21, 2014

The United States has the highest income inequality among comparable nations. The left-side graph depicts the US as having a favorable Gini coefficient (a measure of income inequality) without taxes. After taxes and government transfers are factored in, the US becomes highly unequal. One of the reasons for this trend is that, although the US uses progressive taxation, the tax rates are significantly lower than the international standard and social welfare programs are also much less generous.

–From The New York Times

The Wealthiest US High School Dropouts Make Similar Money to Poor College Graduates

October 20, 2014

 

Wealthy high school graduates make similar incomes to poor college graduates. Nearly the same amount of rich dropouts stay in the top income quintile as poor graduates stay in the bottom (14% vs. 16%). Cumulative advantage (or disadvantage) is still noticeably present for the wealthy, even those who academically strive the least.

–from The Washington Post

Educational Mobility Low in the United States

September 19, 2014

Educational mobility is quite low in the US, where the majority of people attain the same level of education as their parents, or worse. In other words, most people from uneducated families stay that way and vice versa.

–from The Economist

Half of Millenials Worth $10,400 or Less

September 5, 2014

richerthanhalf

Half of Americans under age 35 have a net worth of $10,400 or less, compared to average $81,200 for all families. Strikingly, Americans with a college degree have a median wealth $167,000 higher than those with only a high school diploma.

–from The Wall St Journal

Gentrification Highly Correlated to Neighborhood Racial Composition

August 7, 2014

The likelihood of gentrification is dependent on many variables, but one major indicator is racial composition. The likelihood of a neighborhood drops dramatically if more then 40% of the neighborhood is black. Likewise, neighborhoods with fewer than 35% white residents were significantly less likely to have gentrified between 1996 and 2009. Gentrification, it seems, can reinforce old borders of inequality.

–from The Atlantic’s CityLab

Majority of Americans Lost Wealth in the Past Thirty Years

July 28, 2014

changeinwealth

American median household wealth has declined 20% since 1984, in 2013 dollars. While the 75 percentile and higher gained wealth since then, the majority of Americans lost money over those thirty years. As a striking example, the median wealth fell from $87,992 in 2003 to $56,335 today.

–from Stanford


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