JOURNAL ARTICLE

American Inequality is (Finally) Lessening.

  • Published In: Time.com, 2023. P. 1 1 of 3

  • Database: Academic Search Ultimate 2 of 3

  • Authored By: Semuels, Alana 3 of 3

Abstract

The article discusses the current state of the U.S. economy in 2023, highlighting a modest recovery characterized by slow job growth, consistent inflation, and falling home prices. Despite these challenges, there is a notable reduction in income inequality, with incomes for the bottom half of earners growing by 4.5% in the past year, outpacing the overall average income growth. This shift is attributed to a tight labor market that has increased wages for lower-wage workers, particularly in the service industry. However, concerns remain as many CEOs anticipate a recession, and the long-term sustainability of this reduction in inequality may depend on future policy decisions regarding wages and taxation. [Extracted from the article]

Additional Information

  • Source:Time.com. 2023/03, p1
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2023
  • ISSN:2476-2679
  • Accession Number:162866741
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