Income Gap In New Zealand

The wealth inequality data developed in conjunction with statistics new zealand researchers also show that the 1 have an average mean of 3 6m held in trusts 1 6m in shares and 470 000 in.

Income gap in new zealand. The gini coefficient is a measure of the inequality of a distribution a value of 0 expressing total equality and a value of 1 maximal inequality a report submitted showed that before and after taxes and transfers new zealand s inequality. New zealand s growth in inequality is relatively flat compared to the us however where the share of income going to the top 1 percent has risen from about 12 percent in 1985 to more than 20. New zealand has had one of the fastest growing rates of income inequality among the world s richest countries according to analysis by a leading economic think tank. The poorest half of adults 1 8 million new zealanders have just 2 percent of all wealth.

This indicator measures inequality between high income and low income households after adjusting for household size and composition. In contrast to that the income gap between male and female median wages is smaller in new zealand 5 6 2013 than in any other oecd country. In new zealand the income gap between children and the elderly has widened faster than in other developed countries during the recent recession writes simon collins on the new zealand herald. The household net worth survey by statistics new zealand shows the wealthiest one percent have 20 percent of all assets and the wealthiest tenth have 59 percent.

The reason we call it a crisis is because we re at a point where we really need to tackle it he said. In 2010 new zealand was ranked 20th among 34 oecd countries in terms of income inequality. Until 1960 separate pay rates for men and women doing the. Our income inequality increased very rapidly in the late 1980s and 90s faster in fact than in any other wealthy country.

New zealand s income inequality gap has been rising as shown through the oecd gini coefficients graph. How this indicator was calculated the measure used for the new zealand data is the p80 20 ratio which shows the difference between high household incomes those in the 80th percentile and low household incomes. The gender pay gap is an official statistic published annually by stats nz sourced from the household labour force survey. The organisation for economic co operation and development report says the countries with the biggest increases in income gaps are new zealand finland israel sweden and america.