Introducing
Your new presentation assistant.
Refine, enhance, and tailor your content, source relevant images, and edit visuals quicker than ever before.
Trending searches
Between 1979 and 2005, the income gap between women working for the median wage (the 50th percentile) and low-earning women (at the 10th percentile) grew much more than it did for men at those income levels during the same period. Women are as twice as likely to work for the minimum wage as men are.
Wealthy parents can offer their children better education, connections, support and other resources that help to advance their prospects in life. Hence, these children will also be comparatively wealthy, on average.
An initially unequal wealth distribution results in a self-perpetuating and perhaps even self-enhancing cycle of income inequality. It’s therefore unlikely that a socially mobile and meritocratic society arises automatically.
Income inequality
is the unequal distribution of household or individual income across the various participants in an economy.
It is often presented as the percentage of income to a percentage of population. For example, a statistic may indicate that 70% of a country's income is controlled by 20% of that country's residents.
Four of the wealthiest people in the world come from one family, the Walton’s. They are the four children who inherited Sam Walton’s company Wal-Mart. Together, they are worth $83.6 billion.
Half of American children will reside in a household that uses food stamps at some point during childhood.
Just 400 Americans have the same wealth as half of all Americans combined.
In 2007, more than 37 million U.S. citizens, or 12.5% of the population, were classified as poor by the Census Bureau.
In 2007, CEOs in the Fortune 500 received an average of $10.5 million, 344 times the pay of the average worker.
Globalization causes contemporary increases in income inequality in many Western nations as a result of easier transportation, trade and communication
One study suggests that the fall in organized labor's share of the workforce can explain 14 percent of the rise in the variance among male wages between 1973 and 2001 (but it had no apparent effect on the variance of female wages).
Low skilled workers in Western nations face tougher competition from cheap workers in developing countries, and this competition drives down wages at the poor end of Western income distributions: workers have to swallow wage reductions under the threat of outsourcing.
At the top end of the income distribution, the reverse is happening: the job of a CEO is now more complicated in our globalized world, and hence his pay is higher.