Down To Earth With Harriet Cammock: Income Inequality Is On The Rise
Wages in some sectors are thriving, while in other sectors, they remain stagnant. Why? Within the most prosperous regions of the country, income inequality is widening to new extremes. What economists have come to think of as ‘superstar cities’- think New York City, Los Angeles, etc. - Income growth and income inequality now go hand-in-hand,
A recent analysis by the New York Fed shows that by 2015, San Francisco, New York, Houston, Los Angeles, Dallas and Washington appeared on the list of metropolitan cities where wages of high-skilled workers skyrocketed, But is this symbol of undesirability-high income-inequality- also a signal of something positive in big cities- a strong economy?
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