Absolute and relative poverty Flashcards
what is the level of poverty in the uk
Poverty has increased, close to pre-pandemic levels
More than 1 in 5 people in the UK (22%) were in poverty in 2021/22 – 14.4 million people.
what Is inequality like in the uk and US
Analysis of income inequality. Income inequality in the UK, as measured by the Gini coefficient, increased by 1.3 percentage points to 35.7% when comparing financial year ending (FYE) 2021 to FYE 2022 (as seen in Figure 1)
gini coefficent for uk is 0.357
USAs is 0.47 in 2022
what Is inequality like in the US
2021, the top 10 percent of Americans held nearly 70 percent of U.S. wealth, up from about 61 percent at the end of 1989. The share held by the next 40 percent fell correspondingly over that period. The bottom 50 percent (roughly sixty-three million families) owned about 2.5 percent of wealth in 2021.
gini coefficent is 0.47
what is the level of poverty in the US
The official poverty rate in 2022 was 11.5 percent, with 37.9 million people in poverty. , a family of four would be considered in poverty if their annual household income was $26,500 or less before taxes.
