We investigated four factors typically cited as causing changes in household in- come inequality: namely, (1) the rising proportion of urban households, (2) age distribution changes, (3) increasing number of highly educated households, and (4) wage rate inequality. (1) Rising proportion of urban households.
What is income inequality in the Philippines?
According to Albert and Ramon, the poorest 20% of the population only had a share of 4.45% of the national income. This shows that the distribution of wealth is uneven in the Philippines for the data shows that the poorest 20% earned 14,022 pesos while the richest 20% of 176,863 pesos.
Is income inequality a problem in the Philippines?
Income distribution in the Philippines is highly uneven, and poverty rates are higher than in other ASEAN countries. In addition, although the poverty rate has declined over time, the rate of decline has been lower than in other countries, and income inequality has been persistent.
What are the top three causes of income inequality?
Income inequality varies by social factors such as sexual identity, gender identity, age, and race or ethnicity, leading to a wider gap between the upper and working class.
What is the root cause of inequality?
Root Causes are the underlying reasons that create the differences seen in health outcomes. … For example, the root cause of unequal allocation of power and resources creates unequal social, economic, and environmental conditions.
What are two major factors contributing to increased inequality in wages?
Several factors potentially contributed to this change in wage inequality: technological advancement, globalization, wage-setting institutional changes (i.e., the minimum wage, presence of labor unions, and decline in the large firm wage premium), immigration, and declines in job mobility, across jobs in general and …
Why inequality is a problem in the Philippines?
Land distribution, educational and vocational opportunities and basic welfare programs are also affected by the growing disparity between the Philippines’ richest and poorest citizens. As economic inequality has become more pronounced in the past decade, this has resulted in geographical disparity in the Philippines.
Why is income inequality a problem?
Enough economic inequality can transform a democracy into a plutocracy, a society ruled by the rich. Large inequalities of inherited wealth can be particularly damaging, creating, in effect, an economic caste system that inhibits social mobility and undercuts equality of opportunity.
How can I increase my income in the Philippines?
10 Effective Passive Income Ideas for the Modern Filipino
- Rent Out a Condominium or Townhouse.
- Invest in Stocks, Bonds, and Other Financial Vehicles.
- Enroll in a Variable Universal Life (VUL) Policy.
- Open a High-Yield Time Deposit Account.
- Try Peer-to-Peer Lending.
- Open an Ecommerce Store.
- Explore Affiliate Marketing.