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, spending (real and nominal), 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.
APRIL UPDATE (Data Through February 2024)
DOWNLOAD: FULL NATIONAL REPORT | DATA
DOWNLOAD: FULL REGIONAL REPORT | DATA
Jump to:
INFLATION | EARNINGS | EMPLOYMENT | CONSUMER SPENDING | WEALTH INEQUALITY | FAQ
DOWNLOAD: FULL REGIONAL REPORT | DATA
Jump to:
INFLATION | EARNINGS | EMPLOYMENT | CONSUMER SPENDING | WEALTH INEQUALITY | FAQ
- At the national level inflation trends continued to be very similar to the last quarter of 2023, with inflation inequality being low and AAPI households, households from the lowest-income 40 percent, and young households experiencing relatively higher inflation.
- Inflation gaps are smaller in the region than they were during the 2021-22 inflationary episode, but minority households, high-income households, college-educated households, and middle-aged households continue to experience above-average inflation in early 2024.
DOWNLOAD: NATIONAL INFLATION REPORT | REGIONAL INFLATION REPORT
- The Black earnings gap at the national level has marginally increased, nevertheless remaining well below pre-pandemic levels.
- In the region, real earnings gaps across racial and ethnic groups, educational groups, and men and women have remained in their long-run ranges, though the Black earnings gap is slowly shrinking over time.
DOWNLOAD: NATIONAL EARNINGS REPORT | REGIONAL EARNINGS REPORT
- At the national level, the Black employment and labor force participation gaps declined to their lowest levels since the pandemic, driven by Black women.
- The Black employment gap, specifically the gap for Black women, has been growing in the region despite shrinking in the nation.
DOWNLOAD: NATIONAL EMPLOYMENT REPORT | REGIONAL EMPLOYMENT REPORT
- At the national level, consumer spending rose overall in early 2024, with the increase shared by all groups except for the young (25-34).
- The region has had little growth in spending since its recovery from the pandemic when compared to the rest of the nation.
DOWNLOAD: NATIONAL CONSUMER SPENDING REPORT | REGIONAL CONSUMER SPENDING 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.
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; American Community Survey microdata from the U.S. Census Bureau; and consumer spending data from Commerce Signals, a TransUnion company.
The EGIs will be released every three months at or shortly after 10 a.m. on:
DOWNLOAD: NATIONAL DATA | REGIONAL 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
October 8
January 7, 2025
2023
May 25
July 6
Aug 2
Nov 29 National Report | Regional Report
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 Wealth Inequality in the Post Pandemic Era (February 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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