Tuesday, May 26, 2015

The very old are not as poor as once they were, but children are still poor in rich countries

Interesting data for OECD countries from the OECD Secretariat via The Economist
In the 1980s the richest 10% of the population of OECD countries earned seven times more than the poorest decile. Today they earn ten times more. The poor are also more likely to be young. Poverty rates are now highest among 18- to 25-year-olds, having dropped drastically among those aged over 65. This shift reflects both the financial support offered by pension systems in the developed world and the disproportionate effect of the recession on young people. Wealth is far more concentrated than income, with the poorest 40% of people in OECD countries holding just 3% of the wealth.

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