Job Market Monitor
Inequality
Inequality at its highest since records began OECD finds
Income inequality has reached record highs in most OECD countries and remains at even higher levels in many emerging economies. The richest 10 per cent of the population in the OECD now earn 9.6 times the income of the poorest 10 per cent, up from 7:1 in the 1980s and 9:1 in the 2000s, according … Continue reading
US – Large cities remain more unequal by income than the nation overall
This report updates a 2014 analysis that looked at levels of income inequality in the 50 largest U.S. cities, and examines in particular trends between 2012 and 2013, the most recent data available from the U.S. Census Bureau. Like the earlier analysis, it focuses on incomes among households near the top of the distribution—those earning more … Continue reading
OK – Old displace young on income ladder
When I was a kid old people weren’t very well off. The words poor and pensioner often went together. I remember a poster (presumably by one of the age charities) which I used to pass on the way to my swimming lesson. It said something like, “Poverty and loneliness, the punishment for old age.” That would have … Continue reading
Social Security in US – Rising wage inequality has eroded the finances of the system
This issue brief explores how rising wage inequality has affected the financial outlook of Social Security. We first provide a brief overview of Social Security’s funding structure and its current financial outlook based on the Social Security Administration’s, or SSA’s, most recent projections. Next, we highlight relevant wage trends that have impacted the trust funds’ … Continue reading
US – The broad facts of income inequality over the past six decades
The broad facts of income inequality over the past six decades are easily summarized: The years from the end of World War II into the 1970s were ones of substantial economic growth and broadly shared prosperity. Incomes grew rapidly and at roughly the same rate up and down the income ladder, roughly doubling in inflation-adjusted … Continue reading
Inequalities in US – All 50 states have experienced widening income inequality in recent decades EPI finds
Economic inequality is, at long last, commanding attention from policymakers, the media, and everyday citizens. There is growing recognition that we need an inclusive economy that works for everyone—not just for those at the top. While there are plentiful data examining the fortunes of the top 1 percent at the national level, this report uses … Continue reading
Richest 1% will own more than the rest of the world by 2016
The explosion in inequality is holding back the fight against global poverty according to a new Oxfam report, Wealth: Having it all and wanting more, the combined wealth of the richest 1 per cent will overtake that of the other 99 per cent of humanity next year unless the current trend of rising inequality is … Continue reading
US – Understanding social mobility
Brookings Fellow Richard Reeves explores inequality and opportunity in America with Legos, using them to explain the chances for economic success of Americans born at the bottom of the economic ladder. Reeves shows the chances that the poorest fifth of Americans have to rise to the top, based on their race, the marital status of … Continue reading
Canada – Inequality is growing
The data is in: the rich are getting richer in Canada, and their slice of the pie shows no sign of shrinking. Increasingly, economists are calling for action to even things up. “We have data on income concentration [in Canada] over the last 30 years,” said Kevin Milligan, a professor of economics at the University … Continue reading
US – To what extent is income being redistributed by government action ?
With changes like these in the distribution of the rewards of the American economy, the president and many on the left call for redistributing income from those at the top to those in the middle and bottom. But they seldom mention the extent to which income is already being redistributed by government action. In fact, … Continue reading
World Economic Forum – Joblessness and Inequality head the Top 10 trends for 2015
Deepening income inequality and jobless growth head the Top 10 trends for 2015, according to the Outlook on the Global Agenda, which is published today. These long-standing economic challenges are joined in this year’s survey by growing political and environmental concerns. The trends are based on a survey of almost 1,800 experts from the Forum’s … Continue reading
Canada – Cumulative earnings varied considerably—both across and within fields of study StatCan finds
A new study that followed men and women over two decades found that . Using longitudinal tax data linked to 1991 Census data, the study tracked individuals from 1991, when they were 26 to 35 years old, to 2010, when they were 45 to 54 years old. Individuals were grouped according to their highest level of completed education and major field of study reported in 1991. The labour … Continue reading
Monetary policy and inequality in the US – The links
Possible channels linking monetary policy and inequality Proponents of this view focus on two channels through which monetary policy affects inequality. Heterogeneity in income sources While most households rely predominantly on labour incomes, for others financial income, business income, or transfers may be more important. If expansionary policy raises profits by more than wages, wealth … Continue reading
Inequality in US – The average greenhouse gas footprint of the top 2% of the income distribution is more than four times that of those in the bottom quintile
This paper describes the creation of a database providing estimated greenhouse gas (GHG) footprints for 6 million US households over the period 2008-2012. The database allows analysis of footprints for 52 types of consumption (e.g. electricity, gasoline, apparel, beef, air travel, etc.) within and across geographic regions as small as individual census tracts. Potential research … Continue reading
Individual Character and Social Policy – Help people become more resilient, conscientious or prudent
Policies that ignore character and behavior have produced disappointing results. If you can’t help people become more resilient, conscientious or prudent, then all the cash transfers in the world will not produce permanent benefits. Nearly every parent on earth operates on the assumption that character matters a lot to the life outcomes of their children. … Continue reading
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