inequality – Page 3 – Desdemona Despair

U.S. consumer debt excluding mortgages, 1989-2022. The bottom 90 percent of US households by wealth saw a record jump in consumer debt from June 2021 to June 2022 amid historic inflation. Data: Federal Reserve. Graphic: Bloomberg

September 27, 2022

Consumer debt hits record for most Americans, except the wealthy – “If your costs are rising and your wages are not picking up, how are people going to fill that gap?”

By Alex Tanzi 26 September 2022 (Bloomberg) – Most Americans are more indebted than ever, underscoring a persistent and widening wealth divide in the US. Consumer debt, including credit cards, rose to an all-time high for the 118 million US households among the bottom 90%, according to the Federal Reserve’s latest data on the distribution of household […]

Potential effect of high-temperature days on global life evaluations, 2021-2030. The estimated 17 percent drop in life evaluation by 2030 again does not take adaptability and recovery into account. However, this estimation is based on the increase in the number of high-heat days people will face globally by 2030, and is substantively meaningful. Graphic: Gallup

September 25, 2022

Rising global temperatures linked to declining wellbeing – “The analysis paints a bleak picture of the future”

By Benedicte Clouet and Nicole Willcoxon 31 August 2022 (Gallup) – As people around the world suffer through concurrent extreme heat waves, droughts, and wildfires, the effects of climate change are becoming a grim, global reality. Despite robust evidence of the environmental and economic costs of rising temperatures, far less is known about how these […]

Global Human Development Index, 1990-2021. In 2021, the global Human Development Index value had declined two years in a row, erasing the gains of the preceding five years. The periods of the global financial crisis and the COVID-19 pandemic are indicated. Graphic: UNDP

September 17, 2022

Human Development Report 2022: For the first time, the Global Human Development Index declined for two years in a row, erasing the gains of the preceding five years – “The world is scrambling to respond to back-to-back crises”

NEW YORK, 8 September 2022 (UNDP) – The world is lurching from crisis to crisis, trapped in a cycle of firefighting and unable to tackle the roots of the troubles that confront us. Without a sharp change of course, we may be heading towards even more deprivations and injustices, warns the United Nations Development Programme […]

Futures prices of West Texas intermediate crude oil and lithium, May 2021-March 2022. Graphic: Bloomberg

March 29, 2022

A world that’s more expensive is starting to destroy demand – “A renewed spike in gas prices would see demand destruction become more widespread”

By David R Baker, Allison Smith, and Sheela Tobben 27 March 2022 (Bloomberg) – Prices for some of the world’s most pivotal products – foods, fuels, plastics, metals – are spiking beyond what many buyers can afford. That’s forcing consumers to cut back and, if the trend grows, may tip economies already buffeted by pandemic […]

Generational wealth gap in the United States, 1989-2020. In 1998, the American population under 40 years old held 13.1 percent of America’s total wealth. In 2020, those under 40 hold only 6 percent of the total wealth. This means that millennials and Generation X own less than half of the wealth that older generations owned when they were the same age. Graphic: Self Financial, Inc.

February 19, 2022

Graph of the Day: Generational wealth gap in the United States, 1989-2020

20 December 2021 (Self Financial) – In 2021, the average net worth in an American household aged 64-75 reached over $1.2m [1], while the average household under 35 had a net worth of just $76k. With these massive generational wealth gaps, Self decided to dig deeper into the historical wealth distribution of different generations to understand […]

Infographic showing statistics from Oxfam’s annual inequality report, “Inequality Kills”, which in 2021 found that inequality is contributing to the death of at least 21,000 people each day, or one person every four seconds. Meanwhile, a new billionaire is created every 26 hours. Graphic: Oxfam

January 19, 2022

Oxfam report: Inequality Kills – Inequality contributes to the death of at least one person every four seconds, while a new billionaire is created every 26 hours

By Elizabeth Endara 17 January 2022 (Oxfam) – Ahead of the Davos Agenda—the World Economic Forum’s virtual State of the World sessions—Oxfam released our annual inequality report, Inequality Kills, which found that inequality is contributing to the death of at least 21,000 people each day, or one person every four seconds. Meanwhile, a new billionaire is […]

Debt as percentage of GDP in emerging market and developing economies (EMDEs), 1970-2020. COVID-19 pushed debt in developing economies to the highest level in more than 50 years. By the end of 2020, private debt in EMDEs reached a record 142 percent of GDP. Graphic: World Bank

December 24, 2021

World Bank’s 2021 Year in Review in 11 Charts: The Inequality Pandemic

By Venkat Gopalakrishnan, Divyanshi Wadhwa, Sara Haddad, and Paul Blake 21 December 2021 (World Bank) – From uneven economic recovery to unequal access to vaccines; from widening income losses to divergence in learning, COVID-19 has had a disproportionate impact on the poor and vulnerable in 2021. It is causing reversals in development and is dealing a […]

Average annual global wealth growth rate, 1995-2021. Graph: World Inequality Lab

December 12, 2021

Global wealth inequalities are close to early 20th century levels, at the peak of Western imperialism – “The share of income presently captured by the poorest half of the world’s people is about half what it was in 1820”

8 December 2021 (World Inequality Lab) – […] An average adult individual earns PPP €16,700 (PPP USD23,380) per year in 2021, and the average adult owns €72,900 (USD102,600). These averages mask wide disparities both between and within countries. The richest 10% of the global population currently takes 52% of global income, whereas the poorest half […]

Percentage of wealth held by top 1 percent and middle 60 percent of U.S. earners, 1989-2020. After years of declines, America’s middle class now holds a smaller share of U.S. wealth than the top one percent. Data: Federal Reserve. Graphic: Bloomberg

October 10, 2021

Top one percent of U.S. earners now hold more wealth than all the middle class

By Alex Tanzi and Mike Dorning 8 October 2021 (Bloomberg) – After years of declines, America’s middle class now holds a smaller share of U.S. wealth than the top 1%. The middle 60% of U.S. households by income — a measure economists often use as a definition of the middle class — saw their combined […]

U.S. life expectancy, 1900-2020. Data: NCHS, National Vital Statistics System, Mortality. U.S. life expectancy fell by a year and a half in 2020, the largest one-year decline since World War II. The decrease for both Black Americans and Hispanic Americans was even worse: three years. Graphic: AP

July 26, 2021

U.S. life expectancy in 2020 saw “basically catastrophic” decline, biggest drop since World War Two – “In 2021, we can’t get back to pre-pandemic life expectancy”

By Mike Stobbe 20 July 2021 NEW YORK (AP) – U.S. life expectancy fell by a year and a half in 2020, the largest one-year decline since World War II, public health officials said Wednesday. The decrease for both Black Americans and Hispanic Americans was even worse: three years. The drop spelled out by the […]