The Organization for Economic Cooperation and Development -- formed by the industrialized countries of the world, including the United States -- has released a report on income disparity in developed nations.
The good news? The United States isn't the worst when it comes to the gap between the rich and the poor.
We're better than Turkey and Mexico.
The report says:
"The United States is the country with the highest inequality level and poverty rate across the OECD, Mexico and Turkey excepted. Since 2000, income inequality has increased rapidly, continuing a long-term trend that goes back to the 1970s.
"Rich households in America have been leaving both middle and poorer income groups behind. This has happened in many countries, but nowhere has this trend been so stark as in the United States. The average income of the richest 10% is US$93,000 in purchasing power parities, the highest level in the OECD. However, the poorest 10% of the US citizens have an income of US$5,800 per year -- about 20% lower than the average for OECD countries."
Those figures seem odd because the group uses an index called "purchasing power parities" that allow it to compare economies of different nations with varied economic systems.
Still, take that Mexico. And Turkey.
Check out the report here.
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