A new study suggests income inequality has stabilized due to growth in wages for the lowest-paying jobs
, released Oct. 4, found that household income inequality was “significantly” higher than its 2019 estimate . Contrary to the two scholars’ findings about individual income, the Census Bureau found that household income inequality increased over the last year for the first time since 2011 due to declines in real income—which takes inflation into account—at the bottom of the income distribution.
Research in related fields seems to support the scholars’ findings. As earnings grow for low-wage workers, the number of Americans living below the poverty line has also decreased, says Chris Wimer, director of the Center on Poverty and Social Policy at Columbia University. A number of policies designed to offset the impact of rising prices have contributed, including employment expansions, stimulus payments and the child tax credit of 2021.
In fact, it may take years—or decades—for low-wage workers to start feeling the effects of declining income inequality, even if the downward trend continues. As the nation deals with the worst inflation in 40 years, prices on just about everything have skyrocketed, from living expenses to gasoline to food. “We’ve seen positive movement with the lowest wage sectors having the biggest gains,” Edelberg says, “but there’s no way I think we want to declare mission accomplished.
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