Three million Spaniards ceased to be middle class by the crisis
Madrid, 06 May (APFDigital)
– This is indicated by the monograph published by the BBVA Foundation and the Valencian Institute of Economic Research (Ivie) entitled “Income distribution, economic crisis and redistributive policies” directed by professor of the University of Valencia and Ivie research professor, Francisco Goerlich, and analyzes the period 2003-2013
The source of this “migration” is that about 75% of disposable income of Spanish households comes from work and it has first fallen during the years of the crisis, and recovery is growing with lower wages, shorter hours or as self-employment, indicates Europa Press.
a decade ago 59% of the population belonged to families living in intermediate income levels among the 75% and 200% of income averagely, compared with 31% of those below 75% of this range.
However, with the crisis, which can be considered middle class has reduced its presence to 52% and lower levels have risen to 39%, while the highest incomes have not changed the most.
As a result, the report says that “nearly three million people have moved from the middle to the bottom of the income distribution, and have gone to see themselves as middle class participants in the process of being vulnerable to the consequences of difficult situations, such as the current economic crisis. ” (APFDigital)
Publication Date: 05/06/2016 10:03
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