> While 20% of New Yorkers live below the federal poverty line of $10,830 per year, 40% live below 200% of the federal poverty line of $21,660 per year. Even 200% of the federal poverty line, $21,660 per year, is hard to live on in New York City, which has the highest cost of living of any city in the U.S.
> Over half the income in New York City is earned by just one-fifth of the population
> Racial disparities in earnings continue to be high. Hispanic/Latino households earned barely over half the income of Whites. Black/African American households fared only somewhat better, earning only 60% of what White households earned.
> Nationally, median household income declined 2.3 percent to $49,445 from 2009 to 2010. In New York City, median household income dropped a more dramatic 4.6% to $48,743.
> Poverty and working poverty in the Bronx is the highest of any of the boroughs. 30.2% of working age Bronx residents fall below the federal poverty line, and 14.8% of those working full- or part-time jobs are poor.
> Income inequality and income disparity by race is highest in Manhattan. The top 5% earned 38.1% of the total income. Latino and Black households earn just one third that of White households. White households earned nearly $95,000 per year, while Black and Latino households earned approximately $32,000 per year.
Click below to download a copy of the full report.