Income Inequality in the United States and Oklahoma

Income Inequality in the United States and Oklahoma

May 2013

2

Income Inequality among Households

3

Oklahoma = 8.0

Map credit: Center on Budget and Policy Priorities and Economic Policy Institute, “Pulling Apart: A State-by-State Analysis of Income Trends,” November 15, 2012.

4

Top 10 States in Income Inequality between Top and Bottom Fifths, and Top and Middle Fifths of Households, Late 2000s

16. Oklahoma

Chart credit: Center on Budget and Policy Priorities and Economic Policy Institute, “Pulling Apart: A State-by-State Analysis of Income Trends,” November 15, 2012.

5Chart credit: Center on Budget and Policy Priorities and Economic Policy Institute, “Pulling Apart: A State-by-State Analysis of Income Trends,” November 15, 2012.




9Chart credit: Economic Policy Institute, “Charting the State of the U.S. Economy: EPI’s Top Charts of 2012.”

10

Change in Income Inequality

11

16. Oklahoma 13. Oklahoma

Top 10 States in Increase in Income Inequality between Top and Bottom Fifths, and Top and Middle Fifths of Households, Late 1990s to Mid-2000s




14

18. Oklahoma

Top 10 States in Increase in Income Inequality between Top and Bottom Fifths, and Top and Middle Fifths of Households, Late 1970s to Mid-2000s



16Chart credit : Center on Budget and Policy Priorities and Economic Policy Institute, “Pulling Apart: A State-by-State Analysis of Income Trends,” November 15, 2012.

17

Ratio of Income of Top to Bottom and Top to Middle Quintiles, 1977-79 to 2008-10: Oklahoma and United States

Oklahoma United States Oklahoma United States0123456789

5.4 5.2

2.1 2.1

7.3 7.2

2.7 2.6

8.5 8.3

3 2.8

8 8

2.9 2.7

Top to Bottom Ratio Top to Middle Ratio

'77-79 '98-00 '05-07 '08-10

Source: Center on Budget and Policy Priorities and Economic Policy Institute, “Pulling Apart: A State-by-State Analysis of Income Trends,” November 15, 2012.

18Chart credit : Economic Policy Institute, “Charting the State of the U.S. Economy: EPI’s Top Charts of 2012.”



21

Changes in Household Income and WagesUnited States and Oklahoma

22Source: Center on Budget and Policy Priorities and Economic Policy Institute, “Pulling Apart: A State-by-State Analysis of Income Trends,” November 15, 2012.

Real Growth of Hourly Wages by Percentile, 2007-2011: United States

10th 20th Median 80th 90th

-4.0%

-3.5%

-3.0%

-2.5%

-2.0%

-1.5%

-1.0%

-0.5%

0.0%

0.5%

1.0%

-3.4%

-3.9%

-2.0%

1.0%0.7%

23

Shares of Household Income, 2010 and 2011: United States

Botto

m Q

uint

ile

Seco

nd Q

uint

ile

Middle

Quint

ile

Four

th Q

uint

ile

Top

Quint

ile

Top

5%0.0%5.0%

10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0% 2010 2011


+.1%

-1.6%

-1.9%

-1.6%

+1.6%

+5.3%

(Percent change shown above bars)

24

'77-79 '98-00 '05-07 '08-10 '77-79 '98-00 '05-07 '08-10 $-

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

$180,000

$17,537 $19,961 $18,464 $19,827 $19,329 $21,938 $20,660 $20,510

$32,760 $36,947 $35,576 $38,256 $35,393 $42,158 $42,015 $40,506

$45,489 $53,112 $52,751 $54,940

$48,961 $61,395 $62,137 $60,132

$61,263 $75,298 $74,624 $76,132

$64,875

$85,377 $88,025 $85,900

$95,488

$145,324 $156,501 $158,135

$100,499

$158,219 $171,800

$164,494

Bottom Quintile 2nd Quintile Middle Quintile 4th Quintile Top Quintile


Trends in Average Incomes of Households by Quintile: 1977-79 to 2008-10: Oklahoma and United States (in 2009 dollars)

Oklahoma United States

25

'77-79 '98-00 '05-07 '08-10 '77-79 '98-00 '05-07 '08-10 $-

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$17,537 $19,961 $18,464 $19,827 $19,329 $21,938 $20,660 $20,510 $32,760 $36,947 $35,576 $38,256 $35,393 $42,158 $42,015 $40,506

$45,489 $53,112 $52,751 $54,940 $48,961 $61,395 $62,137 $60,132

$61,263 $75,298 $74,624 $76,132

$64,875 $85,377 $88,025 $85,900

$95,488

$145,324 $156,501 $158,135

$100,499

$158,219 $171,800 $164,494

136269

256006

291704272495

Bottom Quintile 2nd Quintile Middle Quintile4th Quintile Top Quintile Top 5%


… And with addition of Top 5%


26

Oklahoma United States $-

$20,000

$40,000

$60,000

$80,000

$927 $1,331

$2,816 $6,622

$7,262 $13,175

$13,361 $23,150

$61,013 $71,301



Dollar Change in Average Incomes of Households by Quintile, 1977-79 to 2005-07: Oklahoma and United States (in 2009 dollars)

27


$-

$50,000

$100,000

$150,000

$200,000

$927 $1,331

$2,816 $6,622 $7,262 $13,175

$13,361 $23,150

$61,013 $71,301

$155,435




28

Oklahoma United States0%

20%

40%

60%

80%

5% 7%

9%19%

16%

27%22%

36%

64%71%



Percent Change in Average Incomes of Households by Quintile, 1977-79 to 2005-07: Oklahoma and United States (in 2009 dollars)

29


0%20%40%60%80%

100%120%

5% 7%

9%19%

16%27%

22%36%

64% 71%

114%




30

Percent Distribution of Money Income of Households, by Race and Hispanic Origin, 1990 to 2009 : United States (in 2009 dollars)

'90 '00 '09 '90 '00 '09 '90 '00 '09 '90 '00 '09 '90 '00 '090%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

$100,000 and over$75,000 to $99,999$50,000 to $74,999$35,000 to $49,999$25,000 to $34,999$15,000 to $24,999Under $15,000

All White Black Asian & PI Hispanic

Source: US Census Bureau, “Statistical Abstract of the United States: 2012.”

31

Median Household Income by Race and Hispanic Origin, 1980 to 2009: United States (in 2009 dollars)

1980 1990 1995 2000 2005 2006 2007 2008 2009$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000 All White BlackAsian & PI Hispanic

Source: US Census Bureau, “Statistical Abstract of the United States: 2012.”

32

Annual Wages for Wage and Salary Workers, 1967 to 2010: United States (in 2011 dollars)

1967

1973

1975

1977

1979

1981

1983

1985

1987

1989

1991

1993

1995

1997

1999

2001

2003

2005

2007

2009

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

$35,000

$40,000

$45,000

$50,000

Source: Economic Policy Institute, “The State of Working America, 12th edition.”

33

Mean Real Annual Earnings of 20-29 Year Old Males, Selected Years 1967-93: United States (in 1993 dollars)

1967 1973 1979 1982 1989 1993 $-

$5,000

$10,000

$15,000

$20,000

$25,000

$18,875

$20,796 $20,033

$16,486 $18,244

$15,175

Source: Community Service Council, “Roots of the Human Investment Challenge,” February 27, 2003.

27% decline between 1973 and 1993

34

Cumulative Change in Real Hourly Wages of Men, by Wage Percentile, 1979 to 2011: United States

Chart credit : Economic Policy Institute, “The State of Working America, 12th edition.”

35

Cumulative Change in Real Hourly Wages of Women, by Wage Percentile, 1979 to 2011: United States


36

Share of Total Annual Wages Received by Top Earners, 1947 to 2010: United States


37

Share of Total Annual Wages Received by Selected Earners, 1979 to 2010: United States

1979 2004 2007 2009 20100%

10%

20%

30%

40%

50%

60%

70%

80%69.8%

61.5%

22.8%25.6%

7.3%

12.9%

Bottom 90%Top 10% (less top 1%)Top 1%

Source: Economic Policy Institute, “The State of Working America, 12th edition.”

38

Cumulative Change in Real Annual Wages, by Wage Group, 1979 to 2010: United States


39

Impact of Recession



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Income Inequality in the United States and Oklahoma