What is Universal Basic Income?
HudsonUp Year 2 Repot Key Facts and Findings
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HudsonUP Year 1 Findings
As year 2 of HudsonUP’s first cohort comes to a close, it is time to look back on our successes. With 25 participants spanning across the small city of Hudson, New York, the pilot proved not only beneficial to its recipients, but influential for further research into the effectiveness of universal basic income (UBI) in struggling communities. HudsonUP provides $500 a month for 5 years to 25 low income residents, unconditionally. A second cohort of 50 participants were added in Fall of 2021. In Hudson’s community, 23% of residents live in poverty. That’s twice the national average. This 5 year pilot is unique since it allows for the analysis of UBI’s long-term effects. Quantitative and qualitative data is collected from participants twice per year. When the pilot began, 29% participants held full time or part time employment. At the close of year 1, 63% of participants were working either full time or part time jobs. This jump in employment ...
HudsonUP Year 2 makes headway in UBI research
The HudsonUP Basic Income (BI) pilot’s second year wrapped up in the Fall of 2022, which includes 75 individuals over two cohorts. Our lab collected data bi-annually through surveys and interviews with willing participants. In Fall 2022 a third cohort of 53 participants was added, bringing the pilot’s total number to 128 participants. HudsonUP’s unique 5-year length allows a deeper look into the effects of BI on individuals over time. The pilot encompasses a diverse set of Hudson, NY residents, and supports approximately 2% of all Hudson residents, nearly 5% of Hudson households, and 9% of residents living in poverty. Quantitative data from the two cohorts shows that employment rates are steadily increasing above baseline, rising 72% in cohort one, and 150% in cohort two. Along with this, participants increased their savings and made steady improvements to their health. Overall, participants experienced positive c...
What is Universal Basic Income?
Universal Basic Income (UBI), sometimes referred to as basic income, or guaranteed income, was made popular in current conversation by 2020 Democratic Presidential candidate, Andrew Yang. Providing a guaranteed income for citizens is not a newfound concept, rather, discussions of regular, guaranteed payment to all citizens are found throughout history. The creation of the concept of UBI was fueled by the need to rethink our current welfare state. With heightened levels of inequality, and fear for the future of welfare, research into the effectiveness of UBI is growing each year. Therefore, although the topic of UBI is growing in news and politics, many are still unaware of the basics. There are currently many different models of UBI, and most models include a few common components. These commonalities include, the money being provided to individuals, usually on a month...
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