+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

The richest 10% are getting richer across the country

Sep 28, 2015, 17:50 IST

Contractor Chris Siller pushes a wheelbarrow full of sand to fill in a lawn damaged by superstorm Sandy two months after the storm caused extensive damage in the Queens borough region of Belle Harbor, New York, December 28, 2012. REUTERS/Lucas Jackson

There's been an increased focus on the gap between the have and the have-nots and how much each group makes. According to a new study, the chasm between the two is getting even wider.

Advertisement

J. Chris Cunningham at the US Bureau of Labor Statistics conducted a study on wage growth between 2003 and 2013, and found that those that were in the top 25% for wages saw what they made rise over the decade. In contract, those in the bottom 75% actually saw their real wages drop over the 10 years.

"The highest paid 10% of wage earners in the United States earned at least $88,330 per year, while the lowest paid 10 percent earned less than $18,190 per year," said Cunningham. "Therefore, by this measure, the "90-10" ratio in the United States was 4.86 in 2013, compared with 4.54 in 2003, an increase of about 7 percent over that 10-year period."

We pulled out some of Cunningham's most interesting, and startling, findings along with quotes from the study.

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article