Urban Income Inequality on the Increase

The Organisation for Economic Cooperation and Development (OECD) says that global income inequality increased significantly due to the 2008 economic recession.

In its report ‘Divided We Stand: why income inequality keep Rising’, the organisation says argues that despite robust economic growth since the recession, most emerging markets - including South Africa - have failed to reduce inequality.

The report further warns that the gap between rich and poor in OECD countries is at its highest level in more than 30 years, adding that the richest 10 percent now earned nine times more than the poorest 10 percent.

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