At the turn of the twentieth century, the wealthiest one percent of people in the United Kingdom controlled 71 percent of net personal wealth, while the top ten percent controlled 93 percent. The share of wealth controlled by the rich in the United Kingdom fell throughout the twentieth century, and by 1990 the richest one percent controlled 16 percent of wealth, and the richest ten percent just over half of it.

In the 2023/24 financial year, various measures of inequality in the United Kingdom are higher than in the late 1970s. The S80/20 ratio increased from ****to ***, the P90/10 ratio from ****to ***, and the Palma ratio from *** to ***.

The overall wealth of households in the United Kingdom was **** trillion British pounds in the period between 2020 and 2022. Of this overall wealth, the top ten percent of households had over *** trillion pounds of wealth, compared with **** billion owned by the lowest wealth decile.

Historical dataset showing U.K. income inequality - gini coefficient by year from N/A to N/A.

In 2024, the United Kingdom's Gini coefficient score was 34.1, an increase when compared with the previous year. The Gini coefficient is a measurement of inequality within economies, a lower score indicates more equality while a higher score implies more inequality.

Average UK household incomes taxes and benefits by household type, tenure status, household characteristics and long-term trends in income inequality.

Percentage of total wealth owned by households in each decile for London and Great Britain. Data extracted from the ONS Wealth and Assets Survey (WAS) microdata. This dataset is one of the Greater London Authority's measures of Economic Fairness. Click here to find out more.

Examines how taxes and benefits redistribute income between various groups of households in the UK. The study shows where different types of households and individuals are in the income distribution and looks at the changing levels of income inequality over time.

Source agency: Office for National Statistics

Designation: National Statistics

Language: English

Alternative title: household income

The attached file includes data and code used to analyse population scaling and house size in the ancient Near East.

Dataset of long-run data on wealth inequality drawn from existing sources and compiled into a single country-year dataset.

Historical dataset showing British Virgin Islands income inequality - gini coefficient by year from N/A to N/A.

This article provides an initial insight into key measures of household income and inequality, along with analysis of how these measures have changed over time. Source agency: Office for National Statistics Designation: National Statistics Language: English

Many of Europe's largest economies have seen falling shares of their national wealth taken by the bottom ** percent of the wealth distribution since the 1990s. Italy in particular stands out as a particularly stark case, as the bottom half owned around ** percent of the wealth in the country in 1995, while in 2023 they owned only *** percent. Russia is the other country which has seen a consistent decline in the wealth of its poorest ** percent, with the economic crises of the 1990s causing the poor to rapidly lose their share of wealth, but without any recovery during the years of economic success in the run-up to the 2008 financial crisis. Germany, France, Spain, and the United Kingdom have seen more moderate decreases in the bottom ** percent share, with Spain and the UK in fact showing increases in their shares during the early 2000s, as their respective housing booms inflated the wealth of the poorest, before retracting during the financial crisis and great recession. Turkey stands out as an outlier among the large European economies, as the share taken by its bottom half has more than tripled since the 1990s, now having a higher share than in Russia and Italy. This period in Turkey has been marked by rapid economic growth, modernization, and urbanization, some of which has benefitted the poorest by providing new economic opportunities.

About this dataset

Context

The dataset presents median income data over a decade or more for males and females categorized by Total, Full-Time Year-Round (FT), and Part-Time (PT) employment in New Britain. It showcases annual income, providing insights into gender-specific income distributions and the disparities between full-time and part-time work. The dataset can be utilized to gain insights into gender-based pay disparity trends and explore the variations in income for male and female individuals.

Key observations: Insights from 2023

Based on our analysis ACS 2019-2023 5-Year Estimates, we present the following observations: - All workers, aged 15 years and older: In New Britain, the median income for all workers aged 15 years and older, regardless of work hours, was $51,406 for males and $16,830 for females.

These income figures highlight a substantial gender-based income gap in New Britain. Women, regardless of work hours, earn 33 cents for each dollar earned by men. This significant gender pay gap, approximately 67%, underscores concerning gender-based income inequality in the borough of New Britain.

- Full-time workers, aged 15 years and older: In New Britain, among full-time, year-round workers aged 15 years and older, males earned a median income of $74,839, while females earned $59,904, leading to a 20% gender pay gap among full-time workers. This illustrates that women earn 80 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.

Surprisingly, the gender pay gap percentage was higher across all roles, including non-full-time employment, for women compared to men. This suggests that full-time employment offers a more equitable income scenario for women compared to other employment patterns in New Britain.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2023-inflation-adjusted dollars.

Gender classifications include:

• Male
• Female

Employment type classifications include:

• Full-time, year-round: A full-time, year-round worker is a person who worked full time (35 or more hours per week) and 50 or more weeks during the previous calendar year.
• Part-time: A part-time worker is a person who worked less than 35 hours per week during the previous calendar year.

Variables / Data Columns

• Year: This column presents the data year. Expected values are 2010 to 2023
• Male Total Income: Annual median income, for males regardless of work hours
• Male FT Income: Annual median income, for males working full time, year-round
• Male PT Income: Annual median income, for males working part time
• Female Total Income: Annual median income, for females regardless of work hours
• Female FT Income: Annual median income, for females working full time, year-round
• Female PT Income: Annual median income, for females working part time

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for New Britain median household income by race. You can refer the same here

This dataset encompasses the foundations and findings of a study titled "Housing Wealth Distribution, Inequality, and Residential Satisfaction," highlighting the evolution of residential properties from mere consumption goods to significant assets for wealth accumulation. Since the 1980s, with financial market deregulation in the UK, there has been a noticeable shift in homeownership patterns and housing wealth's role. The liberalisation of the banking sector, particularly mortgage lending, facilitated a significant rise in homeownership rates from around 50% in the 1970s to over 70% in the early 2000s, stabilizing at 65% in recent years. Concurrently, housing wealth relative to household annual gross disposable income has seen a considerable increase, underscoring the growing importance of residential properties as investment goods.

The study explores the multifaceted impact of housing wealth on various aspects of life, including retirement financing, intergenerational wealth transfer, health, consumption, energy conservation, and education. Residential satisfaction, defined as the overall experience and contentment with housing, emerges as a critical factor influencing subjective well-being and labor mobility. Despite the evident influence of housing characteristics, social environment, and demographic factors on residential satisfaction, the relationship between housing wealth and satisfaction remains underexplored.

To bridge this gap, the research meticulously assembles data from different surveys across the UK and the USA spanning 1970 to 2019, despite challenges such as data compatibility and measurement errors. Initial findings reveal no straightforward correlation between rising house prices and residential satisfaction, mirroring the Easterlin Paradox, which suggests that happiness levels do not necessarily increase with income growth. This paradox is dissected through the lenses of social comparison and adaptation, theorizing that relative income and the human tendency to adapt to changes might explain the stagnant satisfaction levels despite increased housing wealth.

Further analysis within the UK context supports the social comparison hypothesis, suggesting that disparities in housing wealth distribution can lead to varied satisfaction levels, potentially exacerbating societal inequality. This phenomenon is not isolated to developed nations but is also pertinent to developing countries experiencing rapid economic growth alongside widening income and wealth gaps. The study concludes by emphasizing the significance of considering housing wealth inequality in policy-making, aiming to mitigate its far-reaching implications on societal well-being.

Although China has almost eliminated urban poverty, the total number of Chinese citizens in poverty remains at 82 million, most of which are rural residents. The development of rural finance is essential to preventing the country from undergoing further polarization because of the significant potential of such development to facilitate resource interflows between rural and urban markets and to support sustainable development in the agricultural sector. However, rural finance is the weakest point in China's financial systems. Rural households are more constrained than their urban counterparts in terms of financial product availability, consumer protection, and asset accumulation. The development of the rural financial system faces resistance from both the demand and the supply sides.

The proposed project addresses this challenge by investigating the applications of a proven behavioural approach, namely, Libertarian Paternalism, in the development of rural financial systems in China. This approach promotes choice architectures to nudge people into optimal decisions without interfering with the freedom of choice. It has been rigorously tested and warmly received in the UK public policy domain. This approach also fits the political and cultural background in China, in which the central government needs to maintain a firm control over financial systems as the general public increasingly demands more freedom.

Existing behavioural studies have been heavily reliant on laboratory experiments. Although the use of field studies has been increasing, empirical evidence from the developing world is limited. Meanwhile, the applications of behavioural insights in rural economic development in China remains an uncharted territory. Rural finance studies on the household level are limited; evidence on the role of psychological and social factors in rural households' financial decisions is scarce. The proposed project will bridge this gap in the literature.

The overarching research question of this project is whether and how behavioural insights can be used to help rural residents in China make sound financial decisions, which will ultimately contribute to the sustainable economic development in China. The research will be conducted through field experiments in rural China. By relying on field evidences, the project team will develop policy tools and checklists for policy makers to help rural households make sound financial decisions. Two types of tools will be developed for policy makers, namely, "push" tools that aim to achieve short-term policy compliance among rural households so that they can break out of the persistent poverty cycle and "pull" tools that can reduce fraud, error, and debt among rural households to prevent them from falling back into poverty. Finally, the project team will also use the research activities and findings as vehicles to engage and educate rural residents, local governments, regulators, and financial institutions. Standard and good practice will be proposed to interested parties for the designs of good behavioural interventions; ethical guidelines will be provided to encourage good practice. This important step ensures that the findings of this project will benefit academia and practice, with long-lasting, positive impacts.

The findings will benefit researchers in behavioural finance and economics, rural economics, development economics, political sciences, and psychology. The findings of and the engagement in this project will help policy makers to develop cost-effective behavioural change policies. Rural households will benefit by being nudged into sound financial decisions and healthy financial habits. The project will provide insights on how to leverage behavioural insights to overcome persistent poverty in the developing world. Therefore, the research will be of interest to communities in China and internationally.

Ratio of household equivalised income of the top 10 per cent of households to the income of the bottom 10 per cent of households. Ratio calculated using weekly household income adjusted to take account of differences in numbers and ages of residents. This dataset is one of the Greater London Authority's measures of Economic Fairness. Click here to find out more. This dataset is one of the Greater London Authority's measures of Economic Development strategy. Click here to find out more.