Report: Income inequalitiy greatest among Asian Americans

The model minority myth overlooks lower income Asian Americans.

INCOME INEQUALITY -- the gap in incomes between the rich and poor --in the U.S. is now greatest among Asians, according to a new report from the Pew Research Center that was released Thursday (July 12).

In the simplest terms, among Asian Americans, the rich got richer and the poor - not so much. 

In 2016, the latest year for which data are available, Asians near the top 10%  had incomes 10.7 times greater than the incomes of Asians in the bottom 10%. Asians at the 90th percentile had an income of $133,529 in 2016, compared with $12,478 for those at the 10th percentile. Thus, in 2016, the ratio of these two incomes – the 90/10 ratio – stood at 10.7 for Asians.

The income inequality among Asians was greater than any other racial and ethnic groups. The distribution of income among Asians transformed from being one of the most equal to being the most unequal.

The report should provide more ammunition against the model minority stereotype that haunts Asian Americans. Yes, the report confirms that Asian Americans fared better than other demographic groups in earnings, but that is not a characteristic that can't be applied to the community as a whole. Asian Americans at the bottom of the economic ladder, often overlooked by the myth, did worse than their counterparts in other groups.

In 2016, the median annual income for Asian adults was $51,288, compared with $47,958 for whites, $31,082 for blacks and $30,400 for Hispanics. 

However, lower-income Asians did not keep pace. Asians at the 10th percentile earned 8% more than whites in 1970, but in 2016 they earned 17% less.

To view the complete report, click here.

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