Friday, 3 May 2024

Income inequality is worse than it’s been in 50 years, Census study finds

As politicians fight over who cares about the “little guy”more, the U.S. Census Bureau has found that income inequality is worse than it’s been in 50 years. Not only that, but this is the first time any change in the metric has been statistically significant since 2013 and it’s for the worse.

The data comes from the latest American Community Survey report, which collects information similar to what’s in the census about income, race, age, and more but does so annually rather than every 10 years. Its most recent release found that the gap between America’s richest and poorest households was “significantly higher” in 2018 than it was in 2017.

Counterintuitively, the gap has risen despite the fact that the median wage in the U.S. is higher than ever, per the Census Bureau. The problem is that the gains are not equal. In addition to disparity on the state-by-state level, there is also a huge difference based on race: For Asian households, the median income was $87, 243, while for white households, the median income was $65,902. For black households the number dropped to $41,511, per the North Carolina-based Jacksonville Daily News.

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