Oregonians have been getting a raise according to a report out this week from 24/7 Wall St.
“Personal income per capita climbed 17.3 percent in Oregon between 2008 and 2018, the fifth largest increase of any state,” according to the study. “Partially as a result, the state reported a near-leading reduction of poverty.”
The study also reports, Oregon’s poverty rate in 2012 was 17.2 percent while the national rate was 15.9 percent. In 2017, the state’s poverty rate was reduced to 13.2 percent, compared to a national rate of 13.4 percent.
Aside from the raise, the study pegs Oregon’s personal income per capita at $46,112, which puts the state in the middle of the pack at 25th highest income in the nation.
BUT, OUR INCOME DISPARITY HAS GROWN
However, it’s not all good news, the Oregon Center for Public Policy released a report on the state’s growing income disparity last month.
Their study reports, “The income gap separating those Oregonians in the middle of the income ladder and those at the very top has never been wider. In 1980, it took 26 typical (median income) Oregonians to equal the average income of the highest-earning 1 in 1,000 taxpayers. By 2016, this had grown to 127 typical Oregonians. That is nearly a five-fold increase.”
Their study uses Oregon income tax data from 2016, the most recent year available
In 2016, the top one percent of Oregon’s earners brought home $18.6 billion in income, more than the bottom 50 percent combined, according to the Oregon Center for Public Policy.