Income inequality continues to grow in New Mexico, the nation's poorest state
Posted at: 11/15/2012 7:51 AM
By: The Associated Press
ALBUQUERQUE, N.M. (AP) - A new study says the gap between wealthy households and low-income families in New Mexico continues to grow, and it is now the widest in the nation.
The report was released Wednesday by the Center on Budget and Policy Priorities and the Economic Policy Institute.
It says that from 2008 to 2010, the richest 5 percent of New Mexico households had average incomes nearly 17 times higher than the bottom 20 percent of households.
That's a jump from two years earlier, when the gap was around 14 times higher.
The report also says that in New Mexico, household income for the richest 20 percent of households was 9.9 times greater than for the poorest 20 percent.
Arizona had the second highest gap, with the top 20 percent's income 9.8 times the bottom 20 percent.
California was next, with a ratio of 9.5-to-1.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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