Income inequality in the U.S. increased last year for the first time in more than a decade.
Kymme Williams-Davis, right, takes orders at the Bushwick Grind Caf she owns, Thursday Sept. 8, 2022, in New York. Williams-Davis has noticed a definite shift in customer demand since she's had to raise prices and switch to different types of goods to keep up with inflation.
The income inequality index increased 1.2% from 2020 to 2021, the first time the measurement known as the Gini Index has increased since 2011, according to a report on Current Population Survey results. “It is sensitive to extremes at either end,” said Liana Fox, a Census Bureau official. “This suggests that the decline in real income at the bottom drove the increase in the Gini index.”For the most part, there was little year-to-year change in median household income based on demographic traits like race or ethnic background.
Median incomes were highest in the West at $79,430 and the Northeast at $77,472, followed by the Midwest $71,129 and the South at $63,368.The time period in the latest Current Population Survey covered the third round of pandemic-related stimulus payments and expansions to the Child Tax Credit, Earned Income Tax Credit and the Child and Dependent Care Credit. The time period in the survey also saw a 4.
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