The gap between rich and poor is getting bigger in the world's richest countries - particularly the United States - as children and low-skilled workers slide deeper into poverty, according to a 30-nation report released today.
In a 20-year study of its 30 member countries, the Paris-based Organisation for Economic Cooperation and Development (OECD) said children and young adults are 25 per cent more likely to be poor than the population average - with an even larger gap for single-parent families.
The OECD's members are mostly developed nations, especially in Europe. The United States has the highest inequality and poverty in the OECD after Mexico and Turkey, and the gap has increased rapidly since 2000, the report said.
Meanwhile France has seen inequalities fall in the past 20 years as poorer workers are better paid. At the same time, retiree poverty has fallen in many countries, the report said.
OECD secretary general Angel Gurria urged governments to address the "divisive" issue of growing inequality. He said they should do more to educate the whole workforce - and not just the elite - while helping people join the workforce and boosting incomes for working families, rather than relying on social benefits.
"Greater income inequality stifles upwards mobility between generations, making it harder for talented and hard-working people to get the rewards they deserve," he said.
"It polarises societies, it divides regions within countries, and it carves up the world between rich and poor."
Efforts by governments to curb poverty by redistributing wealth through social policies are becoming less effective as low-skilled workers find it ever harder to find work, the report said.
In the US, the richest 10 per cent earn an average of US$93,000 (Dh341.6m) - the highest level in the OECD. The poorest 10 per cent earn an average of US$5,800 - about 20 per cent lower than the OECD average.
Social mobility is lowest in countries with high inequality such as the US, UK, and Italy, the report said. Since 2000, income inequality and poverty have grown fastest in Germany, although it remains below the OECD average.
In Britain and Japan, inequalities have been falling since 2000 - although the gap between the rich and the poor is still greater in the UK than in three-quarters of OECD countries. The report covers the 20 years from 1985-2005, but the trends it highlights are valid through today, the OECD said.
* AP
The biog
Name: Salvador Toriano Jr
Age: 59
From: Laguna, The Philippines
Favourite dish: Seabass or Fish and Chips
Hobbies: When he’s not in the restaurant, he still likes to cook, along with walking and meeting up with friends.
BRIEF SCORES
England 353 and 313-8 dec
(B Stokes 112, A Cook 88; M Morkel 3-70, K Rabada 3-85)
(J Bairstow 63, T Westley 59, J Root 50; K Maharaj 3-50)
South Africa 175 and 252
(T Bavuma 52; T Roland-Jones 5-57, J Anderson 3-25)
(D Elgar 136; M Ali 4-45, T Roland-Jones 3-72)
Result: England won by 239 runs
England lead four-match series 2-1
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Profile box
Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
The%20specs
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The%20specs
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
NBA FINALS SO FAR
(Toronto lead 3-2 in best-of-seven series)
Game 1 Raptors 118 Warriors 109
Game 2 Raptors 104 Warriors 109
Game 3 Warriors 109 Raptors 123
Game 4 Warriors 92 Raptors 105
Game 5 Raptors 105 Warriors 106
Game 6 Thursday, at Oakland
Game 7 Sunday, at Toronto (if needed)
500 People from Gaza enter France
115 Special programme for artists
25 Evacuation of injured and sick
LIVERPOOL%20TOP%20SCORERS
%3Cp%3E(Premier%20League%20only)%3Cbr%3EMohamed%20Salah%20129%3Cbr%3ERobbie%20Fowler%20128%3Cbr%3ESteven%20Gerrard%20120%3Cbr%3EMichael%20Owen%20118%3Cbr%3ESadio%20Mane%2090%3Cbr%3E%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
AUSTRALIA SQUAD
Aaron Finch (captain), Ashton Agar, Alex Carey, Pat Cummins, Glenn Maxwell, Ben McDermott, Kane Richardson, Steve Smith, Billy Stanlake, Mitchell Starc, Ashton Turner, Andrew Tye, David Warner, Adam Zampa
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
