Thursday, January 09, 2014
Tweet[IWS] THE CONCENTRATION OF WEALTH IN NEW YORK CITY: Changes in the Structure of Household Income by Race/Ethnic Groups and Latino Nationalities 1990 - 2010 [7 January 2014]
IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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Center for Latin American, Caribbean & Latino Studies
Graduate Center
City University of New York
The Concentration of Wealth in New York City: Changes in the Structure of Household Income by Race/Ethnic Groups and Latino Nationalities 1990 - 2010 [7 January 2014]
Laird W. Bergad
http://clacls.gc.cuny.edu/files/2014/01/Household-Income-Concentration-in-NYC-1990-2010.pdf
[full-text, 59 pages]
[excerpt]
Executive Summary
This study examines the concentration of wealth in New York City between 1990 and
2010 using data on household income from the U.S. Census Bureau.3 It measures
income-earning categories in two separate ways. First, by examining the percentile
distribution of wealth – that is the upper 1%, 5%, 10% and 20% of household income
earners and the percentage of total wealth these households control, as well as all
percentile categories in 10% intervals. Second, it examines households in different
actual income categories, such as those earning over $100,000, and how much of the
total City’s wealth they control.4 Additionally, the gini index or coefficient, and how it
changed from 1990 to 2010, is used as an indicator of the process of wealth
concentration in the City.5
The data indicate an extraordinary, and growing, concentration of wealth in the City at
large and among each major race/ethnic group, as well as among the five largest Latino
national subgroups. The upper 20% of all household income earners in the City
controlled 48% of total household income in 1990 and 54% in 2010. Over the same
period the lower 20% of all households experienced a slight decline of from 3.3% to 3%
of the City’s total household income.
AND MUCH MORE....
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