Israel Leads OECD – In Poverty

Israel has earned the dubious distinction of leading the OECD countries in poverty, with a rate almost twice the average, according to Globes on Thursday.

An OECD report found that Israel’s poverty rate was 21% in 2010, up from just under 15% in 1995. This was the highest poverty rate in the OECD, followed by Mexico, Turkey, Chile, and the U.S., in the top five.

The average poverty rate in the OECD is 11%.

In the category of economic inequality, Israel ranked fifth behind Chile, Mexico, Turkey, and the U.S., in descending order, which suffer more inequality than Israel.

Israel fared better in other respects, being one of the few OECD member states with income growth across all households, rich and poor.

The five OECD countries with the lowest poverty rates in 2010 were the Czech Republic, Denmark, Iceland, Hungary, and Luxembourg, with rates ranging from 6% in the Czech Republic and Denmark to 8% in Hungary, and Luxembourg.

The OECD stated that the global economic crisis of 2008-09 had relatively little impact on poverty rates around the world, at least during the period covered by the report, 2007-2010. Slovakia, Italy, Spain, and Turkey saw the biggest rises in poverty rates as a result of the crisis.

This article appeared in print on page 4 of the May 17th, 2013 edition of Hamodia.