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260714 PUDI Report

Regular reports on the growing Poverty, Unemployment, Debt and Inequality of the neo-capitalist world

Greece:

Greece ranks first in the eurozone and fourth among the 28 members of the European Union for the percentage of its citizens living on or below the poverty line, according to a new report.”

The study, conducted by the Foundation for Economic and Industrial Research (IOBE), found that just over a third (34.6%) of Greeks – some 3,795,100 individuals – were living on less than 60% of the national median income in 2013. This percentage has risen steadily since 2010, when the country began implementing austerity measures, increasing from 27.6% in 2010 to 27.7% the following year, 31% in 2012 and 34.6% in 2013.”

Elstat’s data showed that the risk of poverty has increased significantly in Greece since 2010 and the percentage of relative poverty increased by 17.3%, or 3.4 percentage points. In the same period, the poverty gap increased by 24.1% and the risk of poverty and social exclusion by seven points, or 25.4%.”

Greece's poverty rate also outstripped other EU countries that have entered austerity programmes. In Ireland the rate is 30%, in Spain 28.2%, in Cyprus 27.1% and Portugal 25.3%.”


France:

Unemployment in France rose to a new high in May, according to official data released on Thursday, with 24,800 more people seeking jobs, bringing the total number of those without work to a record 3.388 million.”

The number represented an overall 0.7 percent increase during the month of April, the country’s Labour Ministry reported. The news doesn’t bode well for the government of President François Hollande, who pledged to stem rising unemployment in France during his 2012 election campaign. The promise, however, has proven difficult to keep.”

'The unemployment numbers are bad, but at the same time they are not fatalistic,' Prime Minister Manuel Valls said. He also stressed the importance of the government’s so-called 'responsibility pact,' which seeks to shave 50 billion euros off the budget* and stimulate job creation, in reversing the trend."



China:

About one percent of Chinese households own one-third of the nation's wealth, raising concerns about income inequality in the world's most populous country, according to a study by Peking University.”

Chinese households on average had a net worth of 439,000 yuan (about 71,000 U.S. dollars) in 2012, up 17 percent from the 2010 level, the university's Institute of Social Science Survey said Friday in its latest report on China's livelihood development. However, income inequality rose rapidly during the period, the report said, as the top one percent of Chinese households held more than one-third of the nation's wealth, while 25 percent of households at the bottom owned only 10 percent of the country's property value.”

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