The cities with the widest income gaps included Houston, New York, Los Angeles and San Francisco -- but this metro area was the worst.
Big cities equal big time income inequality, according to a new look at the places where American income inequality is most pronounced.
• In the San Jose-Santa Clara area, just to the south of San Francisco, the highest earners make 7.9 times the amount of those at the bottom rung of the earnings ladder. Gaps between the haves and have-nots are deepening across the country, but there’s a reason some places are seeing it more than others.
The same pattern applies for a place like New York City, where the finance industry needs skilled workers, they noted. The Federal Reserve Bank of New York research comes weeks after new U.S. Census Bureau data showed income inequality reaching its highest point since the agency started tracking the divide.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
I'm 30, I Have a Joint Income Of $480,000, & My Net Worth Is $1.5M'I call my Dad. As a first-generation immigrant, he is appalled at the pay cut I would take if I left my job. As my Dad, however, he tells me he supports me no matter what.'
Read more »
Powerhouse U.S. cities home to worst wage inequalityWage inequality has soared in many of the United States' biggest cities ove...
Read more »
Tyler Perry Happy to Squash Spike Lee Feud with Opening of New StudioHere's why Tyler Perry named one of his soundstages after Spike Lee, despite their feud.
Read more »
I Am Watching My Baby Boy Grow Into A Man OvernightHow did we get here? Where did that little boy go?
Read more »
These 3 Policy Failures Are Killing the American DreamThe decline of America’s middle class can be attributed to three distinct (though related) policy failures, writes EricLevitz
Read more »