Job Market Monitor
Inequality
COVID, Inequality and Billionaires – The net worth of eight American billionaires surged by over $ 1 billion in 2020
The net worth of eight American billionaires — the ‘pandemic profiteers’ — surged by over $ 1 billion in 2020. Eight of these billionaires — the “pandemic profiteers” — have seen their net worth surge by over $ 1 billion. They are: Jeff Bezos (Amazon), MacKenzie Bezos (Amazon), Eric Yuan (Zoom), Steve Ballmer (Microsoft), John … Continue reading
EU – The impact of recent reforms on inequality
This thematic review performs an analysis of the impact of recent reforms on inequality in Europe and was prepared by a network of external experts – the European Centre of Expertise (ECE) in the field of labour law, employment and labour market policy. The review consists of 27 country-specific articles dedicated all EU countries covered … Continue reading
Genes, education and labor market outcomes – What can genetic information teach us about the intergenerational transmission of economic inequality?
What can genetic information teach us about the intergenerational transmission of economic inequality? A new IZA Discussion Paper by Nicholas W. Papageorge (Johns Hopkins University & IZA) and Kevin Thom (New York University) uses molecular genetic data to better understand the economic returns to ability endowments over the life-cycle, and how they are influenced by … Continue reading
US – Union boost to nonunion pay has weakened
Pay for private-sector workers has barely budged over the past three and a half decades. In fact, for men in the private sector who lack a college degree and do not belong to a labor union, real wages today are substantially lower than they were in the late 1970s. In the debates over the causes … Continue reading
Our Time – Unprecedented Prosperity and Growing Economic Inequality and Uncertainty
We Live in a Time of Unprecedented Prosperity We have had a great run. The world has never been more prosperous than it is today. People around the world live longer, healthier lives than ever before. In emerging markets, billions of people have moved out of extreme poverty. In the developed world, we enjoy better … Continue reading
Income Inequality in the US in 2013 – The top 1 percent of families nationally made 25.3 times as much as the bottom 99 percent
While economic inequality has been one of the hottest topics this presidential campaign season, much of the focus has been on the fortunes of the top 1 percent at the national level. This report, our third annual such analysis, uses the latest available data to examine how the top 1 percent in each state have … Continue reading
Rising Inequalities in OECD Countries – Gini coefficients 1985 vs 2013
Source: Sighing for paradise to come | The Economist
Prosperity and Inequality – 43 percent of the world’s 1,645 billionaires were from emerging markets in 2014
Prosperity is not necessarily a result of crony capitalism, unfair business advantages or control of natural resources, monopolies, and favoritism. In fact, a new billionaire class has emerged that is testimony to innovation, creativity, ingenuity, and other capitalist skills traditionally associated with advanced economies. Far from disadvantaging poor and middle-class workers, these billionaires have compiled … Continue reading
Measuring Inequality – Spending inequality is dramatically smaller than wealth inequality
In a just-released study, we provide the first picture of actual U.S. inequality. We account for inequality in labor earnings and wealth, as Thomas Piketty and many others do. And we get to the bottom line: what does inequality in spending look like after accounting for government taxes and benefits? Our findings dramatically alter the … Continue reading
US – Income Inequality leads low-income boys to drop out of high school more often
Greater income gaps between those at the bottom and middle of the income distribution lead low-income boys to drop out of high school more often than their counterparts in lower inequality areas, suggesting that there is an important link between income inequality and reduced rates of upward mobility, according to a new paper presented today … Continue reading
Inequality in Canada – May be larger than previously thought OECD Says
The gap between rich and poor in Canada, and in many developed countries, is wider than previously thought, says a new study from the OECD. Economists Nicolas Ruiz and Nicolas Woloszko argue in a new working paper that the existing data on income inequality is incomplete because it’s based on household surveys. High-end earners tend … Continue reading
Inequality – Students in the most deprived schools are half as likely as those from more affluent schools to be entered triple science in UK
New Schools Network research has found that there is a worrying trend that excludes the poorest students from the most rigorous subjects at GCSE. ++ Schools in the least affluent areas account for only 85,000 entries for Biology, Chemistry and Physics GCSEs, compared to 160,000 from advantaged schools ++ Pupils in most deprived schools opting … Continue reading
62 people own the same as half the world, reveals Oxfam Davos report | Oxfam International
The Oxfam report An Economy for the 1%, shows that the wealth of the poorest half of the world’s population has fallen by a trillion dollars since 2010, a drop of 41 percent. This has occurred despite the global population increasing by around 400 million people during that period. Meanwhile, the wealth of the richest 62 … Continue reading
US – 28 percent of these rich households with jobs in 2012 and with average income of $31.4 million got no paycheck in 2013
A very curious thing happened in 2013, when Congress raised the tax rates on top earners, from the 35 percent rate set under George W. Bush back to the Bill Clinton–era rate of 39.6 percent. More than 4,000 households that in 2012 enjoyed salaries averaging $6.5 million each stopped collecting paychecks, my analysis of IRS … Continue reading
Growing Inequalities – Linked to the decline in unionization and the erosion of minimum wages IMF finds
The rise of inequality in advanced economies, and in particular the growing concentration of incomes at the top of the distribution, has become a greater focus of attention for economists and policymakers. Understanding the factors behind this phenomenon is essential to determine whether policy action is needed to reduce income inequality, taking into account other … Continue reading
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