Yesterday, we shared a chart from the New York Times that showed wealth concentration nationwide. The chart shows that, in 2010, the top 1% of income earners increased their income by about 12%. The top .01% increased their income by about 22%!
And the rest of us? The bottom 99% of income earners saw only a 0.2% increase in income. That’s less than the rate of inflation.
Interesting (read: depressing) stuff for sure, but this data applied to the entire country. What about in Oregon?
The Oregon Center for Public Policy has been tracking this data at the state level for some time, and their findings are just as troubling as the national numbers:
Yikes. As OCPP writes:
The past three decades in Oregon, as elsewhere, are in large measure a story of surging income inequality. As the income of the fortunate few at the top has soared, the income of most Oregonians has stagnated or declined. If many Oregonians feel that they are struggling to keep up or falling behind, it is because they are.
The surge in income inequality has occurred even as Oregon’s economy has expanded. This shows that economic growth alone does not and will not create economic opportunity and security for many Oregonians.
For more charts and analysis, check out OCPP’s blog post “Economic Gains Flow to the Top as Oregon Income Inequality Soars.”