Abstract
The last decade witnessed an unprecedented turnaround in inequality in the United States. Inequality in the distribution of household income, which had remained virtually unchanged since the end of World War II, increased sharply during the 1980s. On the basis of U.S. Census Current Population Reports, it was found that the standard of living of the poorest fifth fell by 9 percent between 1979 and 1987, while that of the top fifth rose by 19 percent. The poverty rate, which had declined from 22 percent in 1960 to 11 percent by 1973, rose to 14 percent in 1990. Finally, household wealth inequality followed a similar pattern. The share of the top 1 percent fell from 32 percent in 1962 to about 18 percent in 1976 and then increased to 32 percent in 1986.
Keywords
Single Mother Poverty Rate Black Male Labor Force Participation Rate Social Security BenefitPreview
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