Deepening Disparity: Income Inequality in New York City

This policy brief examines the rapid income gains made among wealthy New Yorkers and stagnant incomes among the poor that have caused income inequality in New York City to become more extreme than in the nation as a whole, New York State and several other major cities. The authors find that gains have been so concentrated at the top of the income scale that the richest 5 percent of New York families now receive nearly 25 percent of total income, more than the bottom 60 percent combined. The brief also provides specific recommendations to address these issues.