Boston 4th for income gap between rich and poor
The Boston Globe - 02/21/2014
Boston’s dynamic, hard-charging economy comes at a price: greater income inequality.
Boston has the fourth-largest gap between rich and poor among the nation’s 50 largest cities, according to a study released on Thursday by the Brookings Institution, a Washington, D.C., nonprofit. Only Atlanta, San Francisco, and Miami had wider income divides between the top 5 percent of earners and the bottom 20 percent.
Boston’s innovation economy has contributed to the divide, analysts said. Technology, life sciences, and financial services helped the city weather the recent financial crisis and kept unemployment from skyrocketing during the last recession.