Job Market Monitor
Inequalities
Spreading the Benefits of the Productivity Revolution
At the heart of the productivity revolution are the computers, software, and the Internet that have found their way into the production of almost everything a modern economy creates. Factory workers are being replaced by computerized machine tools and robotics; office workers, by software applications; professionals, by ever more specialized apps; communications and transportation workers, … Continue reading
UK | Wealthy and Wealthier
Britain’s wealthiest people saw their fortunes rise to record levels last year, according to the annual Sunday Times Rich List, at a time when most Britons’ earnings and savings were squeezed by inflation and low interest rates. The combined wealth of Britain’s 1,000 richest people swelled by almost five percent to more than 414 billion … Continue reading
Moving On Up: How Tuition Tax Breaks Increasingly Favor the Upper-Middle Class | Education Sector.
During the last several years, Congress and the Obama administration have made significant cuts to federal student aid funding to shore up the budget of the Pell Grant program, the primary source of government aid to low-income students. But in a new Education Sector Chart You Can Trust, Stephen Burd argues that the federal government … Continue reading
It’s the economy, not the taxe code, which generates inequalities
The economic framework that has recently defined our politics should be replaced by a new narrative writes William A. Galston, one that runs as follows: In recent decades, changes in the structure of our economy and politics have created a dramatic increase in income inequality; while changes in our tax code did not contribute materially … Continue reading
U.S. Taxes Rates | Wealthiest pay 40% less than 50 years ago while middle class pay roughly the same
Michael Greenstone and Adam Looney of The Hamilton Project – Brookings Institute examine the progressivity of the U.S. tax code and highlight two facts: the current U.S. tax system is less progressive than the tax systems of other industrialized countries, and considerably less progressive today than it was just a few decades ago. The figure below shows how much … Continue reading
Asia | Stable inequality over the past two decades would have lifted 240 million people more out of poverty
Developing Asia’s rapid growth in recent years has given rise to a widening rich-poor divide that threatens to undermine the region’s growth and stability, but governments can address the problem via shifts in spending priorities, the Asian Development Bank said. The region must spend more on education and health, create quality jobs and invest in … Continue reading
Low wage and income workers are both less likely to receive employer benefits and less likely to receive public benefits
“Three decades of stagnating earnings for bottom deciles of male wage earners and 1990s anti-poverty policies promoting employment among poor single mothers suggest increases in the ranks of low-wage breadwinners living in low-income households. Low-wage workers often get few employer sponsored benefits, while antipoverty programs target poor non-earners; these factors suggest low-wage and lowincome workers … Continue reading
U.S. | Inequality seen as a Major Problem in survey
A new Harris Poll examines the issue of inequality and whether or not it has potential traction in the presidential and congressional elections this fall. The results show that it could well be an important issue because a majority of Americans believe that inequality is a “major problem” and that it is important “that the … Continue reading
U.S. | The top 1 percent got 93% of income growth
93 percent of income growth went to the wealthiest 1 percent of American households, while everyone else divvied up the 7 percent that was left over according to Emmanuel Saez. Main Findings Source: http://elsa.berkeley.edu/~saez/saez-UStopincomes-2010.pdf “Figure 1 presents the income share of the top decile from 1917 to 2010 in the United States. In 2010, the top … Continue reading
American Cities | Mapping Inequalities
The Atlantic Cities: Inequality is shaping up to be one of the biggest issues in the 2012 presidential election. The Occupy movement may have waned since last fall, but its focus on the privileges of the top one percent has yet to go away. Most economists argue that rising inequality is driven by broader structural … Continue reading
Inequality and Redistribution during the Great Recession – Economic Policy Papers – Publications & Papers | The Federal Reserve Bank of Minneapolis
In this paper, we explore the impact of the Great Recession on economic inequality and redistribution in the United States. We analyze many sorts of inequality (in earnings, disposable income, consumption expenditures and wealth) for different sections of the economic distribution. Here we highlight three central findings. In 2010, the bottom 20 percent of the … Continue reading
Income Inequality is Bad for Society. Really Bad. – Sociological Images
Societies with more income inequality have higher infant death rates than other societies: Societies with more income inequality have higher rates of mental illness than other societies: Societies with more income inequality have a higher incidence of drug use than other societies: Societies with more income inequality have a higher high school drop out rate than … Continue reading
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