1% income gap continues to grow
The rising gap of income disparity between the top 1 percent of wage earners and the remaining 99 percent is continuing. And, a new study by the Economic Policy Institute shows it is not just an issue in New York City, Silicon Valley, or Hollywood, but almost every community in the country.
Rank (from highest to lowest ratio)
Metropolitan area
Share of total national income
Share of national top 1% income
Ratio of shares (concentration)
Rank (from highest to lowest share of national top 1% incomes)
1
Jackson, WY-ID
0.04%
0.13%
3.1
88
2
Naples-Immokalee-Marco Island, FL
0.22%
0.62%
2.9
28
3
Bridgeport-Stamford-Norwalk, CT
0.74%
1.91%
2.6
13
4
Key West, FL
0.04%
0.11%
2.6
98
5
Summit Park, UT
0.03%
0.07%
2.3
130
9
Hailey, ID
0.01%
0.03%
1.9
244
(EPI)
I n the period following the Great Recession between 2009 and 2015, top 1 percent income grew faster in almost every state than the income of the bottom 99 percent.
The institute claims conscious choices and cultural forces have combined to put downward pressure on the wages and incomes of most Americans. And, it contends the gains have come at the expense of the vast majority of working families.
The group also believes federal policy of the last year has changed in ways that are likely to further increase income inequality.
In Idaho, you have to earn at least $314,532 to be in the top 1 percent. The average annual income of that group is $829,268. The average annual income of the bottom 99 percent of Idaho workers is $47,727. That is a ratio of 17.4 to 1. The top 1 percent take home 14.9 percent of all the income in Idaho.
In Wyoming, you have to make at least $405,596 to be in the top 1 percent. The average annual income of that group is $1,900,559 and the average income of everyone else is $60,922.
According to metropolitan-level data, the Jackson metropolitan area, which includes Teton County, Wyoming and Teton County, Idaho (which are part of the same statistical area) had the largest gap between the top 1 percent and the bottom 99 percent.
During 2015 in Jackson, the top 1 percent earned, on average, 132 times the average income of the bottom 99 percent of families. According to county-level data, Teton County had the largest gap between the top 1 percent and the bottom 99 percent. The top 1 percent in 2015 earned on average 142.2 times the average income of the bottom 99 percent of families.
State rank (from highest to lowest ratio)
State/region
Average income of the top 1%
Average income of the bottom 99%
Top-to-bottom ratio
—
United States
$1,316,985
$50,107
26.3
1
New York
$2,202,480
$49,617
44.4
2
Florida
$1,543,124
$39,094
39.5
3
Connecticut
$2,522,806
$67,742
37.2
4
Nevada
$1,354,780
$41,470
32.7
5
Wyoming
$1,900,659
$60,922
31.2
24
Utah
$1,057,066
$53,614
19.7
38
Idaho
$829,268
$47,727
17.4
Cities:
1
Jackson, WY-ID
$16,161,955
$122,447
132.0
9
Hailey, ID
$3,115,982
$69,399
44.9
(EPI)
You can see more details here.
