An overwhelming number of householders in the Hasidic community are young adults. This age group earns less than those with 20 years more experience, even when both have the same educational attainment. Being a younger-aged community also means more children at home and, therefore, fewer households with two breadwinners because one of the parents stays home. Despite these factors, here are interesting economic data points to review based on Hasidic-populated Kiryas Joel, the largest, Census-quantified Hasidic population in the United States.
Young Age Factor On Income:
The age of the householder impacts earnings. Those under 25 lead only 2.7% of New York households, while almost a quarter of households in KJ is run by this young age group. This matters because being of this young age means much less likely to earn at least $50,000 a year.
Family Size Factor: The Poverty Rate for larger families is elevated everywhere. The only difference is that a large portion of families in the Hasidic community is large. If people want to make the case that family size should reflect income, let's start this debate with the parents of 2.5 million children who attend public schools at a taxpayer cost of $25,000 per child, while Yeshiva students get only a fraction of that.
Poverty Rates Among Hasidim Plummets Once Full Earning Age is Reached; Children Have Left: The Poverty Rate in Hasidic-populated Kiryas Joel levels out with the rest of society for the population age 60 and older because the young age factors on income and family size are largely gone by that stage.
Saving Taxpayers BILLIONS in School Funds:
On average, a Yeshiva student in New York receives less than $1,400 yearly in tax-funded services, while public school students get more than $25,000. The $1 billion dollars-for-yeshivas that the New York Times dossier mentioned in September 2022 was for four years when the state's and NYC education budgets were more than $200 (yes, $200) billion. In the East Ramapo school district in Rockland County, the Yeshiva students get less funding than above, while public school students get more than the state average.