Job Market Monitor
Economic inequality
US / 4 in 5 adults face near-poverty, no work
Four out of five US adults struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives Continue reading
Asia / The Elusive Quest for Inclusive Growth: Growth, Poverty, and Inequality
Over the last two decades, growth in most Asian economies has translated into significant reductions in poverty; nevertheless, Asia is still home to the largest number of the world’s poor Continue reading
The Top 1% / 39% Of The World’s Wealth
The wealthiest 1 percent now control 39 percent of the world’s wealth, and their share is likely to grow in the coming years, according to a new report. The world’s total private wealth grew 7.8 percent last year to $135 trillion, according to the Boston Consulting Group’s Global Wealth report. The top 1 percent control … Continue reading
Slashing top tax rates has had none of the positive effects on economic growth
The rich just keep getting richer — not only by gobbling up more income, but also by paying less in taxes. That means less support for the poor, who are getting increasingly poorer relative to the top one percent. One chart in a new study of income inequality in developed nations, published by the National … Continue reading
Rising inequality jeopardizes economic recovery says Federal Reserve’s Sarah Bloom Raskin
A top ranking member of the United States Federal Reserve cautioned economists this week that growing inequality within the US was worsening the odds of a quick return to the conditions of the pre-recession days. Fed Board of Governors member Sarah Bloom Raskin was in Washington, DC on Thursday, and during an address before the … Continue reading
Measuring Income Inequality / The Standard Gini Coefficient : a ‘rightist’ measure
Recall that the Gini coefficient is a number between zero and one that measures the degree of inequality in the distribution of income in a given society (named after an Italian statistician, Corrado Gini). The coefficient is zero for a society in which each member receives exactly the same income; it reaches its maximum value … Continue reading
Asia / Gap between rich and poor widening finds the Asian Development Bank (ADB)
The Asian Development Bank is urging the Philippines and other countries in Asia to address the widening inequality between rich and poor, in terms of income and access to education, health and other services. The ADB noted that despite the rapid growth in the economies of some of these Asian countries, the gap between rich … Continue reading
US / Can something be done to get Good Jobs ?
Economists are of many minds on the question of whether government policies can reverse negative trends. David Autor, an economist at M.I.T., argued in an email to The Times that “we’re not going to rapidly reverse the tide with any conceivable policy that a mainstream political party or even a mainstream economist would adopt.” Autor … Continue reading
Basic Skills / Financial Literacy to Fix America’s Wealth Inequality
The math of wealth is actually pretty simple: It all boils down to four things: 1. How much you start with, 2. How much income you make, 3. How much of your income you save, and 4. How good of a rate of return you get on your savings. So one obvious thing we could … Continue reading
US / African-American / The wealth gap between worsening
The wealth gap between blacks and whites has nearly tripled over the past 25 years, due largely to inequality in home ownership, income, education and inheritances, according to a new study by Brandeis University. That type of inequality can be a drag on economic growth for everyone, said Thomas Shapiro, director of the university’s Institute … Continue reading
China / To raise minimum wages
China has pledged to increase minimum wages and force state-owned companies to hand over more of their revenues to the public as part of a push to tackle growing inequality.The chasm between China’s rich and poor is seen by analysts as a significant threat to political stability, with discontent over inequality spilling over into angry … Continue reading
US / 47.5 million in Working Poors Families, could reach 50 millions soon
“While the U.S. economy has shown some signs of recovery—the U.S. unemployment rate has dipped below 8 percent from 10 percent three years ago—the economic outlook for many working families is bleak” write Brandon Roberts, Deborah Povich and Mark Mather New in LOW-INCOME WORKING FAMILIES: THE GROWING ECONOMIC GAP (Adapted choosen excerpts by Job Market Monitor to follow) Data from the U.S. … Continue reading
Income inequality: US vs the Roman Empire
Since too much inequality can foment revolt and instability, the CIA regularly updates statistics on income distribution for countries around the world, including the U.S. Between 1997 and 2007, inequality in the U.S. grew by almost 10 percent, making it more unequal than Russia, infamous for its powerful oligarchs. The U.S. is not faring well … Continue reading
Inequality on the rise in most OECD countries
“In the three decades prior to the recent economic downturn, wage gaps widened and household income inequality increased in a large majority of OECD countries. This occurred even when countries were going through a period of sustained economic and employment growth” writes the OECD in its 2011 report An Overview of Growing Income Inequalities in OECD Countries. … Continue reading
US / The Income Inequality Crisis in 16 Charts
The middle class crisis — and its resulting income inequality — is the most important economic story of our time. There are a million ways to tell it, and here’s another: an annotated slide show, culled from the amazing 2012 edition of the State of Working America from EPI. Choosen excerpts by Job Market Monitor … Continue reading
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