According to the US Census, Los Angeles was the fourth most unequal city in the US in 2014. The Public Policy Institute of California noted that Los Angeles had the highest rate of poverty, at 24.9% (2013-2015 average). Because of the high cost of housing, low income county residents barely meet their basic living expenses, have little discretionary income to spend on goods and services that contribute to regional economic vitality, and are unable to contribute to savings accounts. Thus, one financial setback due to unexpected medical bills, the sudden departure of a household breadwinner, or other factors can cause these residents to miss rent payments, face eviction, and potentially, fall into homelessness.
Key to addressing income inequality is strengthening our educational system to help move children and adults– particularly those who are low income — toward self-sustaining careers. Several of the Plan’s goals are designed to grow industries, entrepreneurship, and global trade, all of which provide more well-paying jobs.