Income Inequality By Country Europe

This ratio varied considerably across the member states from 3 5 in the czech republic and 3 6 in slovenia slovakia and finland to 6 0 or more in bulgaria 8 2 lithuania 7 1 romania 7 0 in 2017.

Income inequality by country europe. The less inequality in europe is attributed to the fact that europe has not let its market economy become a market society where market forces control other areas of society such as education health and wages. Find compare and share oecd data by indicator. Indeed the tenth goal explicitly identifies inequality reducing. Finland another nordic country ranks 6th in europe and 10th in the world with a gini coefficient of 26 8.

Disparity of income between regions has been large in many advanced countries. In the eu the top 20 of the population with the highest income received 5 2 times as much income as the bottom 20. Europe s economic and monetary union is devoted to convergence prosperity and social. Data from 2016 show wide inequalities in the distribution of income.

Income inequality has increased more rapidly in north america china india and russia than anywhere else notes the world inequality report 2018 produced by the world inequality lab a research center based at the paris school of economics. Eu member countries forming central europe have a relatively low income inequality compared to other parts of europe. On the basis of the same measure older people aged 65 years and over in the eu 27 experienced less income inequality than the whole population as their income quintile share ratio was 4 1 in 2018. For comparison in the united states the top 1 of earners take 20 of income and the bottom 50 of earners take 10.

The ratio varies considerably across europe with serbia showing the highest increase in income inequality of those included in the stats scoring 9 7 in the chart and trailed by russia. Income inequality is defined as a measure that highlights the gap between different individuals or households disposable income in a particular year and in a given country. The difference between western europe and the united states in this regard is particularly striking. One may think that it is primarily due to differences in regional prices for example 100 can buy more goods and services in missouri than in new jersey.