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Income & Wealth Inequality in America

Income & Wealth Inequality in America. OPEN CLASSROOM Barry Bluestone Director, Dukakis Center for Urban and Regional Policy Northeastern University October 3, 2012. Real Median Family Income 1947-2010. -6.4%. Productivity Growth vs. Growth in Real Family Income.

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Income & Wealth Inequality in America

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  1. Income & Wealth Inequality in America OPEN CLASSROOM Barry Bluestone Director, Dukakis Center for Urban and Regional Policy Northeastern University October 3, 2012

  2. Real Median Family Income 1947-2010 -6.4%

  3. Productivity Growth vs. Growth in Real Family Income

  4. Real Median Income of Working Families 1975-2010 -7.6%

  5. Average Family Income ($2011)

  6. Average Family Income ($2011)

  7. Average Family Income ($2011)

  8. Sources of pretax comprehensive income, by income group, 2007 (2011 dollars)

  9. Sources of pretax comprehensive income, by income group, 2007 (2011 dollars)

  10. Sources of pretax comprehensive income, by income group, 2007 (2011 dollars)

  11. Median Annual Real Earnings: Men vs. Women Full-Time Men: -4.8% Full-Time Women: + 29.5%

  12. Median Annual Real Earnings: Men vs. Women Female/Male Ratio: 57%

  13. Median Annual Real Earnings: Men vs. Women 77% Female/Male Ratio 57%

  14. Median Family Income by Race & Ethnicity

  15. Real Median Household Income by Race & Ethnicity

  16. Ratio of Black & Hispanic Household Income to White Household Income

  17. Impact of Great Recession on Income by Quintile

  18. Real Family Income Growth by Quintile

  19. Low, Middle, & High Income Growth1973 - 2010

  20. Poverty

  21. Share of Population below Poverty Threshold

  22. Poverty Rates by Race & Ethnicity 2011

  23. Poverty Rates by Age Cohort

  24. Elderly Poverty Rate & Social Security

  25. Poverty Rate by Family Type

  26. Poverty Rates by Age

  27. The Wealth Distribution

  28. Wealth (Median Net Worth) ($2010 Dollars) Whites Blacks Black/White Ratio 1983 $ 95,700 $ 6,400 .07 1992 $ 95,300 $16,000 .17 1998 $109,300 $13,400 .12 2007 $151,100 $ 9,700 .06 2010 $ 97,000 $ 4,900 .05 Edward Wolff, The Asset Price Meltdown and the Wealth of the Middle Class,” Russell Sage Foundation, August 2012

  29. “Murder on the Inequality Express” • Suspect 1: Technology • Suspect 2: Deindustrialization • Suspect 3: Deregulation • Suspect 4: Declining Unionization • Suspect 5: Downsizing • Suspect 6: Winner-Take-All Labor Markets • Suspect 7: Free Trade • Suspect 8: Capital Mobility • Suspect 9: Immigration • Suspect 10: Trade Deficits

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