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That’s according to a new report from City Comptroller Mark Levine, who says “New York City is generating enormous wealth, but the vast majority of that prosperity is flowing to those who already have the most.”
The report found income inequality in the city increased between 2019 and 2024 and New Yorkers face even more income disparity than the national rate.
For the bottom 90% of New Yorkers, average real incomes accounting for inflation fell slightly, by 0.8%, over that period. In 2024, the top 1% of city households held 37% of all income citywide, compared with 22% nationally.
The data is the latest evidence of the city’s “K-shaped” economy, where a few gain more every year, but most continue to struggle financially.
A high around 84 with showers and thunderstorms during the daytime. A low near 71, partly cloudy and chances of more rain at night.
MTA 🚇
Midday in Brooklyn, no L trains run between Livonia Avenue and Canarsie–Rockaway Parkway. Find all the MTA’s planned changes and the latest delays here.
Brooklyn Democratic Party reformers accused Chair Rodneyse Bichotte Hermelyn’s faction of stalling Wednesday by showing up to court without attorneys for several outgoing district leaders who are defendants in the reformers’ lawsuit challenging recent party-bylaw changes she won.
Mark Hanna, a reformist-aligned district leader and lawyer for the plaintiffs, called it a “delay tactic” for some defendants to appear without attorneys at Wednesday’s hearing. Anthony Genovesi, a lawyer representing the party and Bichotte Hermelyn, who skipped the hearing, said the unrepresented district leaders needed more time to find attorneys.
Judge Jill Epstein gave those district leaders one more day to secure counsel, citing strict timelines ahead of a key party meeting that, by law, must happen between Sept. 17 and Oct. 1. Both sides are due back in court Thursday.
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