The EGIs measure disparities in macroeconomic outcomes experienced by different demographic, economic, and geographic groups on both a national and regional level.
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Equitable Growth Indicators (EGIs)
The national EGIs present disparities in inflation, earnings (real and nominal), employment, and wealth. The regional EGIs focus on the same set of economic disparities, with the exception of wealth, across the New York-New Jersey metro area, as well as all other counties in New York state.
The demographic and economic groups include race/ethnicity, age, education, income, and veteran status (national EGIs only). The geographic groups include urban/rural status, U.S. census regions, majority minority areas, and low-income areas.
Below are highlights from the various topic areas covered by the latest release.
OCTOBER UPDATE (Data Through August 2024)
DOWNLOAD: FULL NATIONAL REPORT | DATA
DOWNLOAD: FULL REGIONAL REPORT | DATA
Jump to:
INFLATION | EARNINGS | EMPLOYMENT | WEALTH INEQUALITY | FAQ
DOWNLOAD: FULL REGIONAL REPORT | DATA
Jump to:
INFLATION | EARNINGS | EMPLOYMENT | WEALTH INEQUALITY | FAQ
- At the national level, Hispanic, middle- and upper-income, non-college-educated, younger, and rural households are experiencing lower inflation than the national average. Low-income, Northeastern, college-educated, and urban households are experiencing higher inflation than the national average. Both differences are much smaller than during 2021-22.
- In the region, inflation rates have converged across groups with different incomes and ages. This is, in part, because of rising inflation in a variety of important consumption categories.
DOWNLOAD: NATIONAL INFLATION REPORT | REGIONAL INFLATION REPORT
- Veterans’ weekly earnings at the national level have exceeded those of comparable non-veterans by the largest amount since the pandemic, with veterans earning 2.3 percent more than comparable nonveterans (conditional on employment) in August 2024.
- Average real earnings are higher in the region compared to the national average. Real earnings gaps across racial and ethnic groups, educational groups, and between men and women have remained in their long-run ranges, though the Black earnings gap and the gender earnings gap are slowly shrinking over time.
DOWNLOAD: NATIONAL EARNINGS REPORT | REGIONAL EARNINGS REPORT
- At the national level, the labor force participation gap for AAPI workers relative to white workers has fallen to 1.07 percentage points, much lower than its level before the pandemic (4 percentage points in August 2019).
- Labor market gaps have declined in the region at rates similar to those of the nation as a whole. In particular, the gender gap in the region has declined faster and fallen lower than the national gender gap.
DOWNLOAD: NATIONAL EMPLOYMENT REPORT | REGIONAL EMPLOYMENT REPORT
- At the national level, growth in wealth after 2019 was faster for some groups with little wealth relative to population, but did not meaningfully reduce stark wealth inequalities across demographic groups.
- For wealth inequality by generation—published for the first time this quarter—the trends show that millennials/Gen Z far outpace other generations in wealth growth since the pandemic.
DOWNLOAD: NATIONAL WEALTH INEQUALITY REPORT
About the Data
The EGIs are calculated using the Consumer Expenditure Survey microdata from the Bureau of Labor Statistics (BLS); National and Regional Consumer Price Indexes from the BLS; Current Population Survey microdata from the BLS; Distributional Financial Accounts (DFA) data from the Board of Governors of the Federal Reserve System; and American Community Survey microdata from the U.S. Census Bureau.
NATIONAL: REPORT | DATA
REGIONAL: REPORT | DATA
DOWNLOAD: NATIONAL DATA | REGIONAL DATA
As of July 9, 2024 updates to the Equitable Growth Indicators (EGIs) do not include consumer spending data. Historical consumer spending data continues to be available:
NATIONAL: REPORT | DATA
REGIONAL: REPORT | DATA
Release Dates
The EGIs will be released every three months at or shortly after 10 a.m. on:
2024
April 9 National Report | Regional Report
July 9 National Report | Regional Report
October 8 National Report | Regional Report
2025
January 7
April 8
July 8
October 7
Archive
2023
How to cite these reports:
Federal Reserve Bank of New York, Equitable Growth Indicators, https:// www.newyorkfed.org/research/equitable-growth-indicators.
Related reading:
Economic Inequality: A Research Series
Racial and Ethnic Inequalities in Household Wealth Persist (June 2024)
Wealth Inequality by Age in the Post Pandemic Era (February 2024)
Recent Disparities in Earnings and Employment (December 2023)
Flood-Prone Basement Housing in New York City and the Impact on Low- and Moderate-Income Renters (November 2023)
The EGIs: Analyzing the Economy Through an Equitable Growth Lens (July 2023)
Disclaimer
The Equitable Growth Indicators are not official estimates of the Federal Reserve Bank of New York, its President, the Federal Reserve System, or the Federal Open Market Committee.
About the EGIs
Economic analysis often focuses on understanding the average effects of a policy or program. However, it is vital to understand how macroeconomic trends vary across geographic, demographic, and socioeconomic boundaries. Analysis of the New York Fed EGIs helps bring a deeper understanding of equitable growth considerations to policymaking, research,
and practice.
We update the EGIs every three months at or shortly after 10 a.m. on the dates posted toward the bottom of this page.
The EGIs are not official estimates of the Federal Reserve Bank of New York, its President, the Federal Reserve System, or the Federal Open Market Committee.
Director of Research Kartik B. Athreya shares his thoughts on how equity can lead to growth and how the resulting economic expansion can help foster more equitable opportunities.
and practice.
We update the EGIs every three months at or shortly after 10 a.m. on the dates posted toward the bottom of this page.
The EGIs are not official estimates of the Federal Reserve Bank of New York, its President, the Federal Reserve System, or the Federal Open Market Committee.
Why Equitable Growth Matters
Director of Research Kartik B. Athreya shares his thoughts on how equity can lead to growth and how the resulting economic expansion can help foster more equitable opportunities.
Related New York Fed Content
Meet the Economists
Contact Us
If you have questions about the Equitable Growth Indicators, submit them to research.publications@ny.frb.org.
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