The richest 10% of the world population currently concentrates 52% of global wealth: UN

Many people from countries, especially from America and Africa, live in extreme poverty.

Photo: RICHARD PIERRIN/AFP / AFP / Getty Images

Data from the United Nations Organization (UN) reveal that the richest of the world population continue to hoard the wealthwith more than half of the world income.

According to the International Labor Organization (ILO), belonging to the UN, The richest 10% of the world's population currently takes 52% of the world's incomewhile the poorest half gets 6.5% Of the same.

Manuela Tomei, Deputy Director General of the ILO, explained that eight years after its adoption, the 2030 Agenda for Sustainable Development is being challenged by the COVID-19 pandemicclimate change, the war in Ukraine and the demographic and digital transitions.

"The pandemic killed more than 6.8 million people, plunged millions into poverty extreme poverty and famine, and destroyed businesses and jobs. Many countries are still recovering from it, while the world is facing other crises,” she stated.

Tomei highlighted the inequality between global labor marketsboth in opportunities and in results, and said that large gender gaps persist in employment, unemployment, remuneration and pensions.

"Some 290 million young people around the world are not receiving education, employment or trainingwhile 2 billion people work in the informal economy,” he warned.

In the same way, I point out that due to the COVID-19 pandemic, the job and income instabilityunhealthy and unsafe working conditions and a lack of social protection had a disproportionate impact on these workers, who saw their incomes drop by 60% in 2020.

Inflation exacerbated the problem

The official also stressed that rising wheat and oil prices in the autumn of 2021, accentuated by the war in Ukraine, served to aggravate food insecurity and that it continues to erode the purchasing power of workers, especially those at the bottom of the income distribution, fueling social unrest and strikes.

“The pandemic confirmed that the high levels of inequality weaken resilience of people and companies in the face of crises”, he stated.

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