GOBankingRates used data from the U.S. Census Bureau’s 2017 American Community Survey and the Economic Policy Institute’s income inequality report to determine the average income for each state, plus Washington, D.C. Whether you want to be part of the rich and high-salaried or you have different feelings about them, here’s a look at how much you need to be “rich” in each state, based on the results of the data.
GoBankingRates
November 25, 2019
The long-term trend of wages not keeping up with the prices of essentials hasn’t improved much, as it’s been reported that minimum-wage workers can’t afford a two-bedroom apartment anywhere in the US. (The Economic Policy Institute—7/19/18, 2/5/19—found that if the minimum wage tracked productivity growth since the 1960s, it would now be over $20 an hour.)
FAIR
November 25, 2019
“We found absolutely no evidence of broad, negative impacts on the economy of steel and aluminum tariffs to date,” said Robert E. Scott, senior economist at the Economic Policy Institute, who authored the report with support of the U.S. aluminum company Century Aluminum.
CNBC
November 25, 2019
In a country where homeownership has long been the way to build wealth, discrimination in housing is uniquely harmful. It is the chief reason behind the deep segregation in New York’s public schools, which is among the worst in the country. It also helps explain the startling racial gap in wealth in the United States. The median wealth of white Americans is $134,000, according to the Economic Policy Institute. The median wealth of black Americans is $11,030.
The New York Times
November 22, 2019
The economic observation that seems to obviously confirm this conclusion is the longtime and growing gap between worker productivity and worker pay. Perhaps the most frequently cited version of this supposed economic reality comes from the left-wing Economic Policy Institute, which calculates a 70 percent rise in worker productivity since 1979 versus a mere 12 percent rise in pay, all adjusted for inflation. As EPI explains the big disparity, “This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years.”
The Week
November 22, 2019
If you dig deeper into the economic indicators, you will find that something is really fundamentally wrong with our service economy. Despite the good signs, there are large numbers of people who are suffering from years of declining or stagnant wages. Many young people cannot buy a house, go to college, buy healthcare, have children, or do as well as their parents. The Economic Policy Institute says that inequality in United States is the highest of any Western country. They say that from 1979 to 2016, wages of the top 1% grew nearly 150%; whereas the wages of the bottom 90% combined grew just 21.3%.
Industry Week
November 22, 2019
This policy failure, exacerbated by the effects of technological progress, led to what the economist Dennis J. Snower calls as the “decoupling” of economic and social trajectories: even as GDP grew, real wages and prospects for advancement stagnated or deteriorated for large swaths of the population. For example, the Economic Policy Institute reports that, from 1979 to 2018, net productivity in the US rose 70%, but real hourly wages increased by only 12%. Today, 14% of Americans – more than half of whom are people of color – are “working poor” (full-time workers with incomes that are less than 200% of the poverty line).
Project Syndicate
November 22, 2019
The economic observation that seems to obviously confirm this conclusion is the longtime and growing gap between worker productivity and worker pay. Perhaps the most frequently cited version of this supposed economic reality comes from the left-wing Economic Policy Institute, which calculates a 70 percent rise in worker productivity since 1979 versus a mere 12 percent rise in pay, all adjusted for inflation. As EPI explains the big disparity, “This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years.””
Jewish Journal
November 22, 2019
As the rich are getting richer, wages for low-pay workers have stagnated. These are the jobs that are disproportionately held by women and especially women of color—and though their paychecks are not increasing, the costs of housing and childcare continue to rise. One June 2019 report by the Economic Policy Institute even revealed that workers’ wages and bonuses actually declined after the passage of the 2017 tax law.
Ms.
November 22, 2019
A 2017 study by the Economic Policy Institute estimated that in New York State, employers cheat 300,000 workers a year out of $965 million by paying them less than minimum wage. The federal Department of Labor says its Wage and Hour Division recovered “a record” total in the 2019 fiscal year of $322 million in pay owed to workers.
LaborPress.org
November 22, 2019