Monday, July 11, 2016

Facts of Life

Fact: average income of the top 0.1% of US households in 2014 was $6.1 million, compared to average income of the bottom 90% of households being about $33,000 — almost 184 times less than the top 0.1%.

Fact: the Gini coefficient is a measure of statistical dispersion which exhibits the dispersion in the income of a country’s residents and is one of the most commonly used measures of inequality. The level of the Gini coefficient is now higher in Asia than the rest of the world. The average gini coefficient rose from 36 in 1990 to about 40 in 2013 in Asia, relative to a rise of less than 2 points for the rest of the world during the same period.

Fact: a recent report by the UN titled ‘Multidimensional Poverty in Pakistan’ for 2014-15, states that although poverty in urban areas of Sindh stands at 10.6% an alarming 75.5% of rural areas in the province are mired by poverty.

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