The Women’s Center for Education and Career Advancement recently released their Self-Sufficiency Standard for New York City report. And, according to data that will shock absolutely no one, they've discovered living expenses have been outpacing earnings. Seriously, rent is too damn high.
The study found that median earnings for a single-parent with two children rose by 16% in the past 10 years, but the amount needed to cover things like housing, food, child care, health care, transportation and taxes rose by 20%-42%. They also found that just one of the 10 most common jobs in the city (registered nursing) paid an adequate income if you live in Brooklyn. We don't want to think about what this means for Manhattan.
The findings are similar to a report the National Academy of Sciences released in March, which showed the number of people classified as "poor" in the city rose to 22% in 2008. The increase can be attributed to a rise in the limit of what defines poverty for the city. According to city officials, any family of four with an income less than $30,419 is considered "poor." At least Con Ed is doing their part to help people save this summer.