Job Market Monitor
Inequality
OECD / How Inequality in skills is associated with inequality in income
How literacy skills are distributed across a population also has significant implications on how economic and social outcomes are distributed within the society. The Survey of Adult Skills shows that higher levels of inequality in literacy and numeracy skills are associated with greater inequality in the distribution of income, whatever the causal nature of this … Continue reading
OECD / Countries with greater skills inequality have higher income inequality
The low-skilled are more likely than others to be unemployed, have bad health and earn much less, according to the first OECD Survey of Adult Skills. Countries with greater inequality in skills proficiency also have higher income inequality. The OECD Survey of Adult Skills is the new PISA for adults (otherwise known as PIAAC). The Survey … Continue reading
Global Inequality / Within-country inequality had risen to 30 percent of global inequality
But recent falls in global inequality are predominantly attributable to rising prosperity in China a study finds Continue reading
US / An annotated chart of the income share of the top 1 percent, 1913-2012
This graphic adds an annotated political history to the iconic (and recently-updated) Piketty and Saez data on top income shares in the U.S. Continue reading
The 10 nations with the highest total number of millionaire households
These countries were then compared to countries with the highest numbers of households with more than $100 million in AuM, as well as each country’s GDP Continue reading
US / Unemployment Gap between rich at widest levels
US – Rates of unemployment for the lowest-income families — those earning less than $20,000 — have topped 21 per cent. Households with income of more than $150,000 a year have an unemployment rate of 3.2 per cent Continue reading
US Recovery and Real Income Growth / The top 1%: 31% – the bottom 99%: less than 1%
New data reveal that the top 1% enjoyed real income growth of 31% between 2009 and 2012, compared with growth of less than 1% for the bottom 99% Continue reading
Canada / Top 1 per cent earn 7 times Canadian median finds the National Household Survey
Canadians in the top 1 per cent are paid more than $191,000 a year, according to the National Household Survey, which takes a closer look at how governments take from the rich and give to the poor Continue reading
Asia / The Elusive Quest for Inclusive Growth: Growth, Poverty, and Inequality
Over the last two decades, growth in most Asian economies has translated into significant reductions in poverty; nevertheless, Asia is still home to the largest number of the world’s poor Continue reading
The Top 1% / 39% Of The World’s Wealth
The wealthiest 1 percent now control 39 percent of the world’s wealth, and their share is likely to grow in the coming years, according to a new report. The world’s total private wealth grew 7.8 percent last year to $135 trillion, according to the Boston Consulting Group’s Global Wealth report. The top 1 percent control … Continue reading
Slashing top tax rates has had none of the positive effects on economic growth
The rich just keep getting richer — not only by gobbling up more income, but also by paying less in taxes. That means less support for the poor, who are getting increasingly poorer relative to the top one percent. One chart in a new study of income inequality in developed nations, published by the National … Continue reading
US / The Uneven Recovery: Only the Top 7% get A Rise in Wealth
During the first two years of the nation’s economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau … Continue reading
New York City Suburb / The Highest Concentration of High-Income Households
The Bridgeport-Stamford-Norwalk, Conn., metropolitan area, near New York City, had the highest percentage of households with high income in the nation at 17.9 percent, according to a report released today by the U.S. Census Bureau. At the other end of the spectrum are two metro areas named Danville — in Virginia and Illinois — each … Continue reading
China | Communist Party to address rising inequalities
Top Communist Party of China (CPC) officials on Monday pledged to expand the construction of low-income housing and to provide more support to a job market facing pressures from a continuing slowdown, amid growing public concerns about widening social inequality in the country. As the Party prepares for leadership change, how it grapples with surging … Continue reading
Inequality, Source of Macroeconomic Instability – Keynes View
While Keynes rejected the view that over-saving could be a cause of slump, he recognized that it was more difficult to maintain continuous full employment in an economy in which wealth and income are highly unequal…. So what should governments do? Keynes suggested three expedients: they could either increase their own spending out of loans, … Continue reading
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