Despite a growing economy and the lowest U.S. unemployment rate in 16 years, things aren’t looking up for many Americans — financial fragility is especially an issue for people with low incomes and for minorities, according to the new 2017 Prosperity Now Scorecard . Getting By, But Not Getting Ahead
“Since last year’s Scorecard, the big-picture indicators show that people may find it easier to get by — unemployment is down and poverty is down,” said Kasey Wiedrich, director of applied research at Prosperity Now (formerly CFED), a progressive public policy nonprofit. “But when you really look at whether […]
View Original: Americans: Getting By, But Not Getting Ahead
The response to Bill Shorten’s move to make inequality front and centre of his re-election campaign has the highlighted how utterly stuck conservatives are in a pre-financial crisis mindset. Rather than address the issue that has been a clear concern of households during a period of flat real wages growth, the response has been to argue the problem doesn’t exist and that all we really need to do is reduce government spending, keep the minimum wage low and cut workers wages.
Bill Shorten’s speech on Friday in which he argued that inequality was “the biggest threat to our health as […]
View Original: Bill Shorten’s inequality pitch has rustled the jimmies of conservatives
New research is helping us to better understand some of the deeper issues behind current debates about income inequality and social mobility. The result should be a renewed focus on expanding economic opportunity and dynamism across the country.
Concerns about income inequality have climbed to near the top of the political agenda in many developed countries including Canada. Justin Trudeau’s election was driven in part by his message of rising inequality and the attendant need to raise taxes on high-income earners. More than twenty months later, it continues to be an overarching theme for the PM and his government.Yet claims […]
View Original: Income inequality is mostly an urban phenomenon
A scene at Baruch College in New York. (Carlo Allegri/REUTERS) Some 20 years ago, I spent my summer in Washington, D.C., as an intern for the U.S. News & World Report college rankings. Part of my job was to call colleges to get missing data that was used to compile the rankings or confirm the data that the magazine already had from the school. Princeton University ended up No. 1 in the rankings that year. Last year, Princeton was No. 1. In other words, not much has changed in two decades. The top of the list has remained relatively […]
View Original: New rankings tackle old problem: Measuring the outcome of college
Credit: Carla Schaffer / AAAS The probability for children to attain a higher income than their parents has dropped dramatically – from more than 90% for children born in 1940 to 50% for children born in the 1980s – according to a new study analyzing U.S. data. Results reveal that restoring economic mobility would require, in part, more equal economic redistribution. The "American Dream" promises that hard work and opportunity will lead to a better life, and that even those born to low-income families can "rise above the ranks" with sufficient effort. Despite much interest in economic mobility, however, […]
View Original: The fading American dream: Economic mobility has nearly halved since 1940
According to academic research, redlining never went away. One of the most difficult things about trying to talk race in this country is the fact that our knowledge of and agreement on basic facts is so varied. While most of us know that the enslavement and segregation of black people gravely impacted their economic opportunity at one point in time, there is a serious disconnect about what came after.
While many black people are intimately familiar with the practice of redlining (which refers to a combination of housing discrimination and obstructive lending practices which prevent blacks from obtaining home ownership), […]
View Original: Persistent redlining and employment discrimination have hurt black Americans’ chance at wealth
We looked at the most recent data to determine which schools give their students the best chance of moving up the economic ladder in each state. A college education has long been ingrained in our psyches not just as key, but the key to economic mobility. And for many parents, one of the first things they do to get adulting is open up a college fund, hoping this will give their kids the whole American Dream thing — and we’ve got a list of the best schools for catapulting students into the wealthiest brackets.
We at Zippia have put together […]
View Original: These Are The Best Colleges For Economic Mobility By State
Javier López The aftershocks of the Great Recession are still being felt. The trail of suffering in the shape of unemployment and destruction of wealth has transformed the map-making of the western world, ending up by provoking a real geopolitical recession with an Anglo-American epicentre aka the cradle of global capitalism. Likewise, the coordinates of the political agenda are being modified; old conflicts are resurfacing, new cracks appearing. Once again, distribution of wealth, inequality and their effects are returning to the centre stage of public debate. Why is this?
We are reproducing the abnormal levels of inequality of the Gilded […]
View Original: Democracy Without Glue
A core American ideal is that all children should have a clear pathway to thrive and prosper as adults. Yet, children in poverty—particularly children who are persistently poor—face steep obstacles on their path to economic success.
Today, nearly 9 million children in the United States (11.8 percent) will grow up in persistently poor families, meaning that they will spend at least half their lives from birth through age 17 living in poverty. The majority of persistently poor children (56 percent) are black, while 36 percent are white and 8 percent are another race or ethnicity. Rates of poverty and mobility […]
View Original: Escaping Poverty
As Central Texas’ economy booms, its racial divides have only become more acute and costly
As Austin grows, the African-American share of the city’s population is declining, and minorities face poverty and isolation more than their white counterparts. Unchecked, it could cost billions to the area’s economy and allow poverty to continue its generational spread.
Natalie Madeira Cofield spent 12 years working in Los Angeles, New York and Washington. She knows what it’s like to live in a city with a large and vibrant African-American community.When Cofield moved to Austin in August 2011 — just 29 years old at the […]
View Original: The price of wider gaps and weaker links