Job Market Monitor
Inequalities
China – The Growing Inequalities
“The China’s income gap becomes an increasingly serious problem at the present stage” write Lei SUN and Ying-jun SUN in Analysis on China’s Income Distribution at the Present Stage. (Chosen excepts by JMM to follow) It appears not only between the urban and rural residents, but also among different fields, different areas and so on. The … Continue reading
But between 1971 and 2008, all the income growth went to the top 10%,
Between 1921 and 2008, the top 10% and the bottom 90% shared income gains equally. The split was 50-50 exactly, according to a new fun interactive graphic built by the Economic Policy Institute with data from economist Emmanuel Saez. But between 1971 and 2008, real income declined for the bottom 90%. All the growth went … Continue reading
Inequalities in America – 288 times richer
The wealth gap between the richest Americans and the typical family more than doubled over the past 50 years. In 1962, the top 1% had 125 times the net worth of the median household. That shot up to 288 times by 2010, according to a new report by the left-leaning Economic Policy Institute. That trend … Continue reading
UK – Executive pays at £3m average
While many struggle to keep afloat during the recession, Britain’s top chief executives are enjoying an average £3million salary. FTSE 100 bosses have seen their salary soar by 8.5 per cent in 2011 – whereas the national pay average rose by just 1.6 per cent, barely half the rate of inflation. The brutal economic climate … Continue reading
UK – Highly paid jobs have become even better paid
Jobs including chief executives and managers have contributed to the rise in wage inequality in recent decades, research has shown. Highly paid jobs have become even better paid, including company executives and general managers of large organisations whose hourly pay jumped from £12.07 in 1975 to £49.20 in 1996, according to the study by Dr … Continue reading
US – Unemployment Insurance – 711 000 Households with Income of $100,000 or more had received benefits
The report Receipt of Unemployment Insurance by Higher-Income Unemployed Workers (“Millionaires”) by Donald Hirasuna from Congressional Research Service provides information relevant to proposals that would restrict the payment of unemployment benefits to individuals with high incomes. (Adapted excerpts by Job Market Monitor) Summary The economic recession that began in December 2007 officially ended in June 2009 when the U.S. economy reached a … Continue reading
Women and racial minorities – Why do inequalities persist?
While women and racial minorities have increasingly crossed the threshold into professional service organizations, the path to the top remains elusive. Why do inequalities persist? McGinn and Milkman study processes of cohesion, competition, and comparison by looking at career mobility in a single up-or-out professional service organization. Findings show that higher proportions of same-sex and … Continue reading
Liberia – Economic Gains Not Reaching Poors
Despite Liberia’s significant gains over the last decade, the benefits of the growth have not reached the country’s poorest and most vulnerable citizens, says World Bank Country Manager, Madam Inguna Dobraja. Even with robust economic growth, Liberia cannot fully address the needs of vulnerable people without a clear, comprehensive social protection intervention, she said. The … Continue reading
The American Dream – Economic Mobility Across Generations – There is stickiness at the ends of the wealth ladder
Pursuing the American Dream uses the most current available data to measure mobility by family income and wealth, and personal earnings to reveal how closely tied a person’s place on the economic ladder is to that of his or her parents’. Some of the highlights of the research include: Eighty-four percent of Americans have higher … Continue reading
The new Intergenerational Fairness Index shows that overall intergenerational unfairness has worsened in each successive year since 2000
On 26 June 2012, the Intergenerational Foundation marked the formal launch of the Intergenerational Fairness Index, representing the first attempt which has ever been made to systematically measure intergenerational unfairness across time by tracking a range of indicators.
US – Wealth Gap by race widens
White Americans have 22 times more wealth than blacks — a gap that nearly doubled during the Great Recession. The median household net worth for whites was $110,729 in 2010, versus $4,995 for blacks, according to recently released Census Bureau figures. The difference is similarly notable when it comes to Hispanics, who had a median … Continue reading
As Income Inequality Grows, Some Movement at the Top and Bottom
A recent Fed report examines the income of families in 2007 and the same families in 2009, distributed in 20 percent brackets. According to the report, 69.4 percent of those in the lowest income bracket in 2007 were also in the lowest bracket two years later; 19.1 percent rose to the second quintile, 6.7 to … Continue reading
In The News | Veterans , Inequalities, Youth, China Middle Class, Layoffs, EI Changes, Grads and More
More Companies Hiring Veterans | fox4kc.com – Kansas City news & weather from WDAF TV – FOX 4 fox4kc.com – NEAR PHILADELPHIA, Pa. — A company in Pennsylvania is on a mission to hire Veterans. A construction equipment company called Modern Group wants to hire men and women who have served in the U.S. ar… Inequality … Continue reading
Too Hot for TED : What if the typical family got today their 1980 share: 25% more or $13,000 more a year
If you’re plugged into the Internet, chances are you’ve seen a TED talk – the wonky, provocative web videos that have become a sort of nerd franchise. TED.com is where you go to find Facebook COO Sheryl Sandberg explaining why the world has too few female leaders, or Twitter cofounder Evan Williams sharing the secret … Continue reading
U.S. | Rising innequalities in the United States was a root cause of the financial crisis
As noted by The Economist, “[s]everal prominent economists now reckon that inequality was a root cause of the financial crisis.” Indeed, in recent years there has been a proliferation of analyses supporting this view writes Till van Treeck in Did inequality cause the U.S. financial crisis? published on boeckler.de. The explanation is straightforward: As the benefits of rising … Continue reading
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