Posted on 09/14/2022 6:17:10 AM PDT by Red Badger
The Gini index, a common measure of the inequality between the lowest and highest earners in a society, rose in America for the first time in ten years, according to data from the U.S. Census Bureau.
The Gini index, which ranges from 0 to 1, where 0 represents total income equality, rose 1.2% to 0.494 in 2021, the Census Bureau reported Tuesday. The increase was driven primarily by a measurable decline in the overall inflation-adjusted earnings of the poorest 10% of American households, with the richest 10% seeing no statistically significant changes in their overall income.
The poorest 10% of households saw their real incomes decline to $15,660 at most in 2021, almost 4.5% less than they made in 2020, according to the Census Bureau. The richest 10% of households made 13.53 times as much, making at least $211,956, up from 12.9 times as much in 2020.
The overall income of households was stagnant in 2021, with a statistically insignificant decrease in median income by 0.6% to $70,784, according to the Census Bureau. The only group to see a statistically significant increase in income was those who attained a Bachelor’s degree or higher, seeing a 2.7% increase in median income to $115,456.
Foreign-born householders saw a statistically insignificant 1.5% increase in income, while native-born householders saw a statistically significant decrease of 1.4% in income. Family households held relatively steady while nonfamily households saw a decrease of -1.9% to $41,797.
Poverty levels rose slightly in 2021 to 11.6%, up from 11.4% in 2020, though the increase was not statistically significant, according to the Census Bureau. Prior to 2020, the poverty rate had fallen for five straight years.
Declining income for the poorest Americans coincides with historically high increases to the price of food, rent and utilities. Food prices, in particular, have increased at 40-year highs for seven months running, prompting some consumers to trade out traditional grocery stores for dollar stores.
The cost of rent nationwide was up 6.7% year-on-year in August, according to the Bureau of Labor Statistics. However, rent for a single family houses increased at a rate of 13.4% to an average of $2,495 in 2021, which, combined with soaring property values, has hindered the ability of families to purchase homes, according to CNBC
The U.S. Census Bureau did not immediately respond to a Daily Caller News Foundation request for comment.
Meet the new boss.
Same as the old boss...................
Still waiting for the report on ‘Effort Inequality’, to see if those results directly or inversely correlate to the ‘Income Inequality’ data.
Socialist countries have the unique property of impoverishing everyone except those in the political class/government.
If you are a government employee, then you ARE the problem. You don’t make shit. Get a real eff’n job in the private sector and cut government spending.
Jordan Peterson has repeatedly talked about this happening.
Lord, do I wish people would WAKE UP!
The more a politician shouts EQUITY, the higher the crime rate, prices go up, incomes go down and the misery index goes up. Any politician that runs on equity or Climate Change should be disqualified.
Foreign-born householders saw a statistically insignificant 1.5% increase in income, while native-born householders saw a statistically significant decrease of 1.4% in income.
Democrats flat line wage system in action.
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