ALBANY, N.Y. — The disparity between rich and poor is growing in America as the federal minimum wage has remained flat for years, union membership has declined and industries have faced global competition, according to a study released Thursday. The report by the Center on Budget and Policy Priorities and the Economic Policy Institute, both liberal-leaning think tanks, found the incomes of the poorest 20 percent of families nationally grew by an average of $2,660, or 19 percent, over the past 20 years. Meanwhile, the incomes of the richest fifth of families grew by $45,100, or nearly 59 percent, the study by the Washington-based groups said. Families in the middle fifth saw their incomes rise 28 percent, or $10,218. The figures, based on U.S. Census data, compare the average growth from 1980-82 to 2001-03, after adjusting for inflation. The poorest one-fifth of families, the report said, had an average income of $16,780 from 2000-03, while the top fifth of families had an average income of $122,150 – more than seven times as much. Middle-income families’ average income was $46,875. Trudi Renwick, an economist with the union-backed Fiscal Policy Institute in New York, said globalization, the […]
Friday, January 27th, 2006
Study Finds Rich-Poor Income Gap Growing
Author: MARK JOHNSON
Source: The Associated Press
Publication Date: Jan 26, 8:24 PM EST
Link: Study Finds Rich-Poor Income Gap Growing
Source: The Associated Press
Publication Date: Jan 26, 8:24 PM EST
Link: Study Finds Rich-Poor Income Gap Growing
Stephan: