August 20, 2019

Economix Blog: New York State Leads in Income Inequality

CATHERINE RAMPELL

CATHERINE RAMPELL

Dollars to doughnuts.

Of all American states, New York again has the most unequal income distribution, according to a new report from the Census Bureau. Wyoming has the most equitably distributed income.

Source: U.S. Census Bureau, 2011 American Community Survey. A state abbreviation surrounded by a circle  denotes the value for the state is not statistically different from the overall country's Gini index.Source: U.S. Census Bureau, 2011 American Community Survey. A state abbreviation surrounded by a circle  denotes the value for the state is not statistically different from the overall country’s Gini index.

Income inequality is measured by the Gini index, which runs from zero to one. A zero represents a society where income is distributed exactly proportionally among every household. A one indicates maximum inequality, where one household has all the income and all the others have none.

The Gini index value for the United States in 2011 was 0.475, higher than it was in 2010 at 0.469. The index rose in 20 states last year (including New York); there was no statistically significant change in the rest of the states and the District of Columbia (which, at 0.534, has a higher index value than any state).

The Gini index value for New York State was 0.503, which means the state’s household incomes are about as equally distributed as those in Costa Rica, at least according to the most recent international data available.

The report also looked at median household incomes across the states, which showed great inequality among states as well as within them. The median household income ranged from a low of $36,919 in Mississippi to a high of $70,004 in Maryland.

As previously reported, the national median income fell from 2010 to 2011. There was only one state in which it rose a statistically significant amount, after adjusting for inflation: Vermont, where the median household income was $52,776 in 2011 after having been $50,707 in 2010.

Article source: http://economix.blogs.nytimes.com/2012/09/20/new-york-state-leads-in-income-inequality/?partner=rss&emc=rss

Economix Blog: Long Road Ahead for Most American States

Michigan, Nevada and Rhode Island will probably have to wait another six years before they are back to the number of jobs they had before the recession struck, according to economists at IHS Global Insight.

These analysts have projected when each state will likely return to its past peak employment, as shown in the map below:

DESCRIPTIONSource: IHS Global Insight.

Across the country, there are 4.7 percent fewer jobs today than there were when the recession began in December 2007. And remember that the United States population has grown in the last five years, so if the economy were healthy there would be more jobs today than there were then. This analysis only models when we’ll be back to square one.

Only Alaska, North Dakota and the District of Columbia have recovered the jobs they lost during the recession. Those places have actually surpassed their previous employment peaks as well.

Article source: http://feeds.nytimes.com/click.phdo?i=afb24b3323f1b058749e03710abe8f00