Income Inequality Rising Most Rapidly Among Asian Americans
Asian Americans displaced Blacks as the most economically divided racial or ethnic group in the country, according to a new Pew Research Center analysis of government data. While Asian Americans overall rank as the highest earning racial and ethnic group in the U.S., it is not a status shared by all Asians: from 1970 to 2016, the gains in income for lower-income Asian Americans trailed well behind the gains for their counterparts in other groups. During that time period, the gap in the standard of living between Asian Americans near the top and the bottom of the income ladder nearly doubled, and the distribution of income among Asian Americans transformed from being one of the most equal to being the most unequal. The Asian experience with inequality is partly driven by immigration. Immigrants accounted for 81% of the growth in the Asian adult population from 1970 to 2016, and the foreign-born share among Asians increased from 45% to 78% in this period. The trends in income growth also show that Blacks made some progress in closing the gap with whites. Blacks at the median and at the 10th percentile experienced more of an increase in income than similarly situated whites, and Blacks at the 90th percentile kept pace with whites. Hispanics experienced smaller increases in income than whites at all percentiles, however. Thus, lower-, middle- and upper-income Hispanics all lost ground to their white counterparts from 1970 to 2016. More here.