In case you were feeling a little too cheerful this holiday season, the Fiscal Policy Institute has a new report [pdf] to remind you about New York City’s ever-widening income gap. According to the report, “if New York City were a nation, it would rank 15th worst among 134 countries with respect to income concentration, in between Chile and Honduras.”
“Naked Capitalism” has more analysis on the report, which finds that the replacement of New York’s historically broad middle class (no more manufacturing or mid-level corporate jobs for you, millenials!) by moderate- and low-paying service industry jobs, along with a poor redistribution of income through taxes, are just some of the factors that have caused New York’s great income disparity. Some fun facts: