December 16, 2016 Comments Off on The Shrinking Middle Class: U.S. Income Inequality Widens Views: 409 Connect Classroom

The Shrinking Middle Class: U.S. Income Inequality Widens

Mapping software firm Esri outlined the cities where income inequality is greatest in the United States. Out of the top 10 cities, only one is on the West Coast, with Silicon Valley coming in at number nine.

The top cities are:

  1. Boston, MA
  2. New Orleans, LA
  3. Atlanta, GA
  4. Cincinnati, OH
  5. Providence, RI
  6. New Haven, CT
  7. Washington, DC
  8. Miami, FL
  9. San Francisco, CA
  10. New York City, NY

The study also noted that the top one percent possesses twice the share of the nation’s income than it did half a century ago. Furthermore, the middle class is no longer the majority. Take New York for example, coming in last on the list, but the salient statistic shows that one in five live below the poverty line.

As for number one, Boston, the top 5% earn over $265,000, while the bottom 20% earn just under $15,000 annually.

Read More at MarketWatch

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