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NYC Ranks 6th in U.S. in Income Inequality

Thursday, February 20, 2014

New York has the sixth-highest income inequality among the 50 biggest U.S. cities, according to a report from the Brookings Institution. (Courtesy of the Brookings Institution)

New York has the sixth-highest level of income inequality among the biggest 50 U.S. cities.

That's according to a new report from the Brookings Institution. Author Alan Berube said the top five percent of households make at least $225,000 a year, while the bottom 20 percent make $17,000 or less. He said focusing on economic diversity and upward mobility can help narrow the gap.

"That means focusing on jobs that are accessible to the people who maybe don't have a four-year college degree, focusing more on middle-wage job growth," said Berube.

The report found Atlanta has the widest income gap, followed by San Francisco.

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