The EGIs are broad-based economic indicators that measure macroeconomic outcomes experienced by different demographic, economic, and geographic groups on both a national and regional level.
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The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
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Equitable Growth Indicators (EGIs)
The national EGIs present heterogeneities in inflation, earnings (real and nominal), employment, and wealth. The regional EGIs focus on the same set of economic heterogeneities, 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 heterogeneities include differences by disability, veteran status, age, education, income, race/ethnicity, and business size. 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.
JANUARY UPDATE (Data Through November 2024)
DOWNLOAD: FULL NATIONAL REPORT | DATA
DOWNLOAD: FULL REGIONAL REPORT | DATA
Jump to:
INFLATION | EARNINGS | EMPLOYMENT | WEALTH | FAQ
DOWNLOAD: FULL REGIONAL REPORT | DATA
Jump to:
INFLATION | EARNINGS | EMPLOYMENT | WEALTH | 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.
- In the region, inflation rates have converged across groups with different incomes, ages, and education levels. This is, in part, because of rising inflation in a variety of important consumption categories.
DOWNLOAD: NATIONAL INFLATION REPORT | REGIONAL INFLATION REPORT
- At the national level, the earnings gap for Hispanic workers has reverted to higher levels, while the gap for Black workers has continued its decline.
- 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 gender earnings gap is slowly shrinking over time.
DOWNLOAD: NATIONAL EARNINGS REPORT | REGIONAL EARNINGS REPORT
- At the national level, rural employment and labor force participation gaps have risen noticeably, suggesting that rural labor markets may not be as strong as urban ones. While workers with disabilities have a much lower employment rate than those without disabilities, they have experienced noticeably higher employment growth since the pandemic.
- 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 growth relative to population, but this did not meaningfully reduce stark wealth inequalities across demographic groups.
DOWNLOAD: NATIONAL WEALTH 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 and Quarterly Workforce Indicators from the U.S. Census Bureau.
NATIONAL: REPORT | DATA
REGIONAL: REPORT | DATA
DOWNLOAD: NATIONAL DATA | REGIONAL DATA
Note: 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 Schedule
Released at or shortly after 10 a.m.
2025
January 7 National Report | Regional Report
April 8
July 8
October 7
Archive
2024
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)
Veterans in the Labor Market: 2024 Update (May 2024)
Wealth Inequality by Age in the Post Pandemic Era (February 2024)
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.
The EGIs are updated 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.
The EGIs are updated 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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