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Article: Poverty in New York City, 1969-99: the influence of demographic change, income growth, and income inequality.
- Article from:
- Federal Reserve Bank of New York Economic Policy Review
- Article date:
- July 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 Federal Reserve Bank of New York. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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* Despite gains in employment, income, and educational attainment, New York City experienced a rise in poverty from 1969 to 1979 and a continued high rate from 1979 to 1999.
* A study of the impact of several purported causes of poverty in the city finds that certain key demographic changes are associated with the rise in poverty and its persistence.
* Dwarfing the impact of the demographic changes, however, was a dramatic increase in income inequality from 1979 to 1999 driven by a widening disparity in wage rates.
1. INTRODUCTION
The four-year rise in the U.S. poverty rate that began with the recession of 2001 and the images of ...