Philadelphia, Pennsylvania
With a rate of 25.7%, nearly 400,000 of Philadelphia residents lived below the federal poverty line according to data reported by the Pew Research Center. More than half of those residents (14.0% of the city’s population) live in a state of “deep poverty” in which a household of four has an annual income of only $12,300.
The United States has remarkable levels of income inequality. According to the Institute for Policy Studies, by September 2020, “the total wealth of all the billionaires- $3.8 trillion today — is two-and-a-half times the $1.5 trillion in total wealth held by the bottom half of the population, or 165 million Americans.”
While the United States real economic output per person (real GDP per capita) has almost doubled with a 91.1% increase in the past four decades ($30,077 in the first quarter of 1979 compared to $57,429 in the fourth quarter of 2018 according to the Federal Reserve Bank of St. Louis, adjusted to 2012 dollars), this has barely registered in the inflation-adjusted wages of average Americans. The Congressional Research Service reports that during the same time period (1979-2018), the average real wage for Americans in the 50th percentile increased by only 6.1% (14.9 times less than the growth of population-adjusted economic output), and actually decreased by 5.1% for men. Those in the 90th percentile saw a 37.6% increase in wages, while those in the 10th percentile received essentially the same wages 40 years later (1.6% increase).