An economy that works is an economy that works for all.
Income inequality and poverty are on the rise.
- The richest 5% of Durham County’s households have an average income that is 27 times greater than the poorest fifth of household.
- Nearly one in five Durham residents lives in poverty.
- Over half of the renters cannot afford fair market rent for a two-bedroom unit.
Find an economic snapshot of Durham here.
The North Carolina and federal wage minimum wage levels of $7.25/hour don’t let families earn enough to make ends meet.
- For a full-time, year-round worker, that’s only about $15,000 per year.
- A conservative measure of what it actually takes to make ends meet in Durham for a family of two (one adult and one child) finds that it takes at least $18.41 per hour to meet the most basic of needs.
When workers don’t make enough to make ends meet, families, communities and the economy suffer.
- Low-income earners tend to spend a larger proportion of earnings in the local economy, providing a stimulus effect.
- The estimated GDP impact of a minimum wage increase to $10.10, for example, would be approximately $1.3 billion in North Carolina.