Income Inequality Among Retirees

For many older Americans, the rat race is over. But the inequality isn’t., By Peter Whoriskey, October 18, 2017, Washington Post: “While the rat race ends with retirement, one of its principal features extends well past a person’s last day of work. Income inequality in the United States spills over from the job into the last decades of life, according to a new survey that ranks the differences among U.S. retirees as among the most extreme in the 35-country comparison. The report being issued Wednesday by the OECD, or Organization for Economic Cooperation and Development, reports levels of inequality in a survey of member countries…”

U.S. Child Poverty

Why child poverty in the US may be much worse than you realize, By Danielle Kurtzleben, October 30, 2014, Vox: “Nearly 44 percent of all US kids were in poverty for two or more months from 2009 to 2012, the Census Bureau reported on Wednesday. Poverty is unevenly spread, and for many college-educated, urban-dwelling, well-to-do Americans can be almost entirely hidden. It might be that none of the kids in your neighborhood or church or school district were in poverty during this period. But that means that there’s some other neighborhood where many — even most — of the kids were. And this is just the beginning of the staggering figures on US child poverty…”

Wage Inequality – OECD

OECD: Wage inequality will only get worse from now through 2060, By Mamta Badkar, July 2, 2014, Business Insider: Global wage inequality is expected rise, and economic growth is expected to slow, between now and 2060, according to a new report form the OECD. The report points out that widening earnings gap, ‘rising capital incomes (which tend to be highly concentrated), less redistributive tax and benefit systems, and changing household formation patterns,’ have all contributed to rising inequality in recent decades. ‘Rising inequalities threaten growth, most notably by blocking economic opportunities,’ according to the press release. The OECD projects that earnings inequality could grow between 17-40% by 2060. . .”

Inequality and Poverty – Cross-National

How the U.S. compares on income inequality and poverty, By Elizabeth Shell, June 19, 2014, PBS Newshour: “There’s new data on income inequality out from the OECD Thursday, so we thought we’d take a look to see how the U.S. compares against the group’s 33 other countries — and its upcoming World Cup matches (more on that in a bit). When we look at income, the U.S. has had a wider gap — meaning less equal distribution of income — than the OECD average for at least the past 30 years. The data also shows that lower-income households across the OECD were hit harder by the financial crisis — the poor either lost more during the crisis or benefited less from the recovery than did their higher-income neighbors. While real household income hasn’t changed much (stagnated) across the 34 member countries, young adults have been hit the hardest since the financial crisis. . .”

Income Inequality in Developed Countries

  • Income inequality in industrialized world continues to grow, says OECD, By Tavia Grant, May 14, 2013, Globe and Mail: “Income inequality is growing across the industrialized world, including Canada, with the global financial crisis deepening the divide between the rich and the poor, says an analysis to be released Wednesday. And the rate of change is quickening. The income gap increased at a faster pace in the three years to 2010 than it had in the previous 12 years, according to an Organization for Economic Co-operation and Development report…”
  • Report: Income inequality rising in most developed countries, By Eliza Mackintosh, May 16, 2013, Washington Post: “The divide between rich and poor is widening in developed nations, according to a new report released Wednesday by the Paris-based Organization for Economic Cooperation and Development. According to the new data, economic disparity has risen more from 2007 to 2010 than in the preceding 12 years. Over this period, the OECD has documented increasing income inequality caused by the financial crisis, which it says is ‘squeezing income and putting pressure on inequality and poverty…'”
  • Young and poor hit hardest as UK cuts widen inequality, says OECD, By Randeep Ramesh, May 14, 2013, The Guardian: “The OECD has warned that Britain faces rising levels of inequality by pursuing austerity polices that are widening the gulf between rich and poor. In a report examining the developed world’s response to the global slowdown, the thinktank warns that the ‘financial crisis is squeezing income and putting pressure on inequality and poverty’ across the board…”

OECD 2012 U.S. Economic Survey

  • OECD raises red flag on US long-term unemployment, By Lucia Mutikani, June 26, 2012, Reuters: “The lengthy spells many Americans are spending without work risk leaving a lasting scar of higher unemployment on the U.S. economy and training programs are needed to avert the damage, the OECD said on Tuesday. The warning from the Organization for Economic Cooperation and Development comes against the backdrop of stalled U.S. jobs growth and an uptick in the unemployment rate in May. In a report on the U.S. economy, the Paris-based OECD estimated the unemployment rate which the economy could sustain without generating inflation at 6. 1 percent, up from 5.7 percent in 2007. In May, the rate stood at 8.2 percent. “However, structural unemployment may well already have risen more than this estimate would suggest, and there is a risk that it could increase still further, given the still high levels of long-term unemployment,” the OECD said. Before the 2007-2009 recession, many economists believed the so-called natural or structural rate of unemployment was around 5 percent. . .”
  • OECD Sees U.S. Economic Growth, Stark Challenges, By Michael R. Crittenden, June 26, 2012, NASDAQ: “The U.S economic recovery may be gaining momentum, but the country faces stagnant wage growth, high comparative levels of poverty and income inequality and an educational system that provides few resources to those more likely to need help, the Organization for Economic Cooperation and Development said in a new report. The OECD’s 2012 economic survey of the U.S. found that the U.S. economy has made some gains and is expected to grow moderately this year and next. A further deterioration of the European crisis or the potential for U.S. policymakers to allow for immediate sharp cuts in government spending could jeopardize the outlook, the report said. . .”