after the congratulations of the Forbes report on us being the best little country in the world in which to do business, here are two charts that might make us take pause…
Both are from a new ESRI study. They are on relative poverty risk in the EU. It looks at what is called the “at Risk of Poverty Rate” AROP. This is defined as
The at-risk-of-poverty rate before social transfers is the share of persons with an equivalised disposable income, before social transfers, below the risk-of-poverty threshold, which is set at 60% of the national median equivalised disposable income (after social transfers).
Think of it as just at risk of poverty.
First, across the EU.
Yes.. we are number one. Without state transfers fully 1/2 of the population would be at risk of poverty. But it gets more stark…look over time. We have seen the largest increase in AROP since 2005.
This, this is success?