A new study released this month shows that areas of New York City are facing a growing disparity in income levels. The study, conducted by the New York City Department of Planning, found that median household income in Manhattan’s Financial District has increased by 97% since 2000, while median household income in the Bronx has decreased by 5%. This growing gap in income levels highlights the need for policies that promote economic equity and social mobility in New York City. The study also revealed that while the cost of living has increased significantly in all five boroughs, the rates of poverty and unemployment remain highest in the Bronx. The New York City Department of Planning is calling for more targeted policies that will help to bridge this economic gap.

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source: Phys.org