Job Market Monitor
Inequalities
Poorer than their Parents – Reimagining an economy where the future for the next generation is not worse?
Two-thirds of people in advanced economies are poorer than their parents Brancaccio: So I know we could convene a symposium about the following question, but where might we focus our attention to reimagining an economy where the future for the next generation is not worse? Manyika: I think one of those is to really think about the … Continue reading
Inequalities in US – Family Wealth, defined benefit and defined contribution plans
How is family wealth in the form of employer-sponsored defined benefit (DB) and defined contribution (DC) plans distributed? How did the distribution of retirement assets change between 1989 and 2019, and how did it change for families with various socioeconomic characteristics? How did the phaseout of DB plans affect the concentration of family wealth? How … Continue reading
COVID and Work and Education Inequalities in UK – Those aged 16-25 were over twice as likely as older employees to have suffered job loss
The purpose of this brief paper is to present initial findings from the recently collected LSE-CEP Social Mobility survey, which was undertaken as part of our UKRI project ‘Generation COVID and Social Mobility: Evidence and Policy’. These are the first results from a project that is producing a detailed assessment of COVID-19’s impact on education … Continue reading
Wages Inequalities in Canada – 60% of the dispersion in individual employment earnings is accounted for by worker characteristics within firms, and the remaining 40% by firm characteristics
While the productivity gap between the top 10% of firms in the productivity distribution and other firms in the Canadian economy has increased since 2000, it has not resulted in a widening of the employment earnings distribution. The employment earnings gap between workers in the top and bottom ends of the earnings distribution has actually declined over … Continue reading
The Distribution of Household Income in US, 2014 – Average of $19,000 for the lowest quintile and of $281,000 for the highest quintile and getting worse
In 2014, average household income before accounting for means-tested transfers and federal taxes was $19,000 for the lowest quintile and $281,000 for the highest quintile. After transfers and taxes, those averages were $31,000 and $207,000. What Are the Trends in Household Income and Income Inequality? According to the agency’s estimates, average household income before transfers … Continue reading
Income and Generations in Canada – 32% of the earnings differences among fathers’ generations is passed on to sons
A child’s future income level in Canada is more strongly determined by his or her father’s income than previously thought, according to a new study. Intergenerational income mobility is measured by comparing the income of parents with the income of their children when the latter become adults. If parents and their adult children were all … Continue reading
US – Higher education didn’t protect hispanic and black wealth study finds
College-educated families usually earn significantly higher incomes and accumulate more wealth than families headed by someone who does not have a four-year college degree. The income- and wealth-boosting effects of education apply within all racial and ethnic groups. Higher education may also help “protect” wealth, buffering families against major economic and financial shocks and mitigating … Continue reading
Great Britain – The wealthiest 10% of households owned 44% of total aggregate household wealth, the least wealthy half 9%
This chapter looks at total net wealth of private households in Great Britain. The definition of wealth used in this survey is an economic one: total wealth (gross) is the value of accumulated assets, and total wealth (net) is the value of accumulated assets minus the value of accumulated liabilities. Total net wealth is defined … Continue reading
US / Addressing income inequality is not government’s priority job voters says to Fox Poll
A new Fox New poll shows a possible disconnect between President Barack Obama and voters on what the president says will be the top priority for the rest of his term: reducing income inequality. Continue reading
Inequalities / The 85 richest people as wealthy as poorest half of the world
The wealth of the 1% richest people in the world amounts to $110tn (£60.88tn), or 65 times as much as the poorest half of the world Continue reading
Poor planning skills lead to income-achievement gap research finds
A new study of a large ethnically and socioeconomically diverse group of children from across the United States has identified poor planning skills as one reason for the income-achievement gap, which can emerge as early as kindergarten and continue through high school Continue reading
US / The Top 20% Own 72%; The Bottom 20%, 3%
The growing disparity in wealth made the great recession worse and the recovery weaker than ever before. This nation’s wealth disparity widened more than ever before over the last five years because of the steep decline in the value of residential homes and stagnant wages for the lower and middle income groups in the U.S., … Continue reading
US / Younger Generations Lag Parents in Building Wealth
A new study from the Urban Institute finds that Younger Generations up to roughly age 40 have accrued less wealth than their parents did at the same age, even as the average wealth of Americans has doubled over the last quarter-century. Because wealth compounds over long periods of time — a dollar saved 10 years … Continue reading
US / Wealth Inequality (Video)
Infographics on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often not what we think it is. via Wealth Inequality in America – YouTube.
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
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