BRA Report Finds Boston’s Booming Economy Leaving Many Residents Behind
The Boston Redevelopment Authority released a report Tuesday with some new numbers on the city’s deep income inequality. It finds that median income in Boston is just over $35,000 per year. When you factor in inflation, that figure has remained unchanged for nearly three decades.
Matthew Resseger, senior economist at the Boston Redevelopment Authority.
- ” For more than a generation, the incomes of Boston residents in the lower half of the income distribution have remained stagnant.”
- “Many cities with the highest levels of income inequality in 2014 reflect broader patterns across their metro areas. Boston leads the city list; its large student population partly explains its relatively low 20th percentile incomes.”
- “A new report on Boston’s workforce provides yet more evidence that many in the city are struggling to find well-paying jobs, despite Boston’s overall strong economic growth.”
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