Income Gap in NY State is USA’s highest January 27, 2006
The haves and have nots in New York has the widest gap, acccording to a study by the Economic Policy Institute and the Center on Budget and Policy Priorities. The average income of the richest 20% of NY State families is 8.1 times (or $130,431) the average income of the poorest 20% (or $16,076). The article didn’t state the income gap between the rich and poor in Manhattan, but my guess is that the gap is much higher. Being in this area, all of the hourly workers such as restaurant servers, deli cashers, and service workers, seem to be working double-time while Wall Streeters, Advertisers, and knowledge workers are enjoying larger income growth compared to service workers. Of course this is anecdotal, but the Manhattan rents and prices are noticeably higher than many salaries out there.
Ratio of the top fifth of families’ average incomes to those of the bottom fifth.
- 1) New York: 8.11
- 2) Texas: 8.08
- 3) Tennessee: 7.72
- 4) Arizona: 7.71
- 5) Florida: 7.61
- United States: 7.28
- 46) Nebraska: 5.57
- 47) Wisconsin: 5.48
- 48) Iowa: 5.42
- 49) South Dakota: 5.26
- 50) Wyoming: 5.16
(Sources by Economic Policy Institute; Center on Budget and Policy Priorities)
Source:
Income Gap in New York Is Called Nation’s Highest
By DANNY HAKIM (NYTimes)
Published: January 27, 2006
- Posted in : Income Gap
- Author : Kyle
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