NJ Household Income Gap Growing

STATE – The gap between the highest and lowest income households in New Jersey has grown significantly over the last 30 years, and is among the largest in the nation according to a new analysis by the Center on Budget and Policy Priorities and the Economic Policy Institute.

New Jersey had the 11th highest household income disparity in the nation between the top 20 percent of families and the bottom 20 percent from 2008-2010. The top fifth earned 8.3 times as much as the bottom 20 percent, an average of $201,024 versus $24,268. From 1977-79, the top households earned 5.1 times as much as the bottom ones.

Income for the households at the top of the scale is growing dramatically faster than for those at the bottom. From the late 1970s to the mid 2000s, income for the top fifth rose 101.9 percent. Income for the bottom fifth rose only 26.7 percent.

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