OECD Says Income Inequality Still at Record Levels

The gap between the rich and poor remains at record levels, according to the Organisation for Economic Cooperation and Development as the poorest 10% have been unable to recover from the blow dealt by the financial crisis.

The Paris-based thinktank said while the richest 10% had rapidly bounced back, long-term unemployment, low-quality jobs, and greater job insecurity had disproportionately hit low-income households.

Publishing the latest analysis of the OECD’s 35 member countries, the organisation said: “By 2013/14, incomes at the bottom of the distribution were still well below pre-crisis levels while top and middle incomes had recovered much of the ground lost during the crisis.”

In the UK, income inequality has fallen since 2007 but remains one of the highest in the OECD. It ranks seventh highest of 35, according to the Gini coefficient measure of income inequality.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza