Report: World’s richest countries suffering from stalled social mobility
A new report has shed light on dire income inequality in the world’s richest countries since three decades ago.
According to the in-depth report by the Organization for Economic Co-operation and Development (OECD) it could take at least five generations or 150 years for a poor British child to reach the average national income (about £27,000) for those in full-time employment.
The figure for a Danish and Sweden child stands respectively at two and three generations, the report said.
“Barriers to social mobility were harming economic progress by shutting out vital workers and undermining political stability as people became cynical about their prospects,” the OECD report said.
France and Germany are described in the report as more equal societies than the UK on some measures as the countries boast a lower proportion of people on low incomes.
The OECD, however, said “the poorest Britons are more likely to escape poverty than those on low incomes in France and Germany, where it takes six generations to reach the average national income.”
Gabriela Ramos, OECD Chief of Staff says it is important that everyone has the opportunity to succeed, especially the most disadvantaged, and that growth becomes truly inclusive.
His organization has been accusing the governments since long time ago of failing to address widening health gaps, a divergence in skills and educational opportunities.
It also said the governments have been failing to bridge the divide between school and employment for those who leave education with few qualifications.
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