(2005-09-06) Manhattan Income Inequality

In Manhattan/NYC, Income Inequality seems to be getting worse. The top fifth of earners in Manhattan now make 52 times what the lowest fifth make - $365,826 compared with $7,047... That represents a substantial widening of the income gap from previous years. In 1980, the top fifth of earners made 21 times what the bottom fifth made in Manhattan, which ranked 17th among the nation's counties in income disparity... The growing disparity in Manhattan helped drive New York from 11th among cities with the biggest income disparities in 1980 to fifth in 1990 and fourth in 2000, behind Atlanta; Berkeley, Calif.; and Washington, according to the analysis. Not promising for the Middle Class...