Monday, September 01, 2014
Tweet[IWS] Eurostat: INCOME INEQUALITY: NEARLY 40 PER CENT OF TOTAL INCOME GOES TO PEOPLE BELONGING TO HIGHEST (fifth) QUINTILE--Issue Number 12/2014 [7 July 2014]
IWS Documented News Service
_______________________________
Institute for Workplace Studies-----------------Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor--------------------Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
This service is supported, in part, by donations. Please consider making a donation by following the instructions at http://www.ilr.cornell.edu/iws/news-bureau/support.html
European Commission
Eurostat
INCOME INEQUALITY: NEARLY 40 PER CENT OF TOTAL INCOME GOES TO PEOPLE BELONGING TO HIGHEST (fifth) QUINTILE--Issue Number 12/2014 [7 July 2014]
or
http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Income_inequality_statistics
This article presents data on income inequality, measured by the Gini coefficient, across the EU-28 and three EFTA countries. Income inequality is a complex phenomenon, the result of interaction between several factors. It can be related to employment patterns, income sources, individual characteristics (education level, age, gender, etc.) or household features (number of earners in the household, family size, etc.). Inequality is a broader concept than poverty; while poverty mainly relates to the lowest part of the income distribution, inequality takes into account the living conditions of all people in a society.
The analysis showed that Norway and Slovenia had the lowest level of inequality (as measured by the Gini coefficient) in Europe in 2012, and that Spain and Latvia had the highest level. Overall, twelve countries had a level of inequality higher than the EU-28 average in 2012. In Europe, nearly 40 % of total equivalised income goes on average to people belonging to the highest (fifth) income quintile, and less than 10 % to people in the first quintile. This distribution of income explains the income discrepancies among people. It should be noted that inequality decreased in 12 EU countries in 2008-12, mainly due to the income losses seen in the upper part of the income distribution during the financial and economic crisis
________________________________________________________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
