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Income inequality in Ohio
Illustration: Sarah Grillo/Axios While the top 1% of Ohioans earn 10% of the state's total income, the bottom 50% earn just 13%.That disparity puts Ohio 29th among states per a new Scioto Analysis . Why it matters: Income inequality can negatively impact the well-being of a population and cause social and health problems. By the numbers: The top 1% of earners make about 19 times more than the rest of Ohioans — almost $813,000 yearly. Ohioans with a high school diploma are earning almost $12,000 more than those without one.College graduates earn about $27,000 more on average than Ohioans with only a high school diploma.As of 2018, 76% of Ohioans had not earned a bachelor's degree and 31% did not have a high school diploma. Zoom in: According to the , Cleveland-Elyria is the most unequal metropolitan area in the state. Average yearly income of the top 1% is over $1 million. The bottom 99% is just over $48,000. What we're watching: The study identified ways to potentially lessen Ohio's income inequality. Increasing minimum wage from the current $9.30 to $15 an hour would benefit 42% of Ohioans, it says.Implementing earned income tax credits would provide Ohioans with allotted payments depending on how far below the federal poverty level they fall. What they're saying: "Traditional tools like earned income tax credits and minimum wage increases can ameliorate inequality, but according to our simulations, a would have an impact three times as large as either of those measures," said Rob Moore, principal at Scioto Analysis, in a . The big picture: Nationally, the highest earners continue to make more while middle and lowest earners' income growth has plateaued. Get more local stories in your inbox with .Subscribe Support local journalism by becoming a member.
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