New Zealand has the second-highest level of poverty in the developed world, according to a study released Tuesday by the Institute for Policy Studies.
The study, released at the end of March, found that only 22.5 percent of New Zealanders are “poorly off” in their daily lives.
While most of those living on less than $3.25 a day (or about $8.90 a month) are able to scrape by, the rest are forced to rely on food banks, unemployment benefits, and other welfare programs.
The study also found that New Zealand’s poverty rate increased in the years following the 2001-02 global financial crisis.
The new study shows that the gap between rich and poor widened significantly after the 2008 global financial meltdown, and the gap widened even more after the 2011-12 global financial downturn.
This means that many of the people in New York City are “on the verge of starvation,” said John Lanchester, a professor at the London School of Economics and Political Science.
“The real poverty rate in New England and the whole of the developed country is now above 20 percent, and we’re still living on the margins,” Lanchester told Bloomberg.
New Zealand has been in a deep recession since 2008.
The country has also been hit hard by the Great Recession and the global financial collapse.
In the year ending December 2017, the number of unemployed workers rose to 5.3 million, up from 5.1 million in December 2016.
About 6.4 percent of the country’s workers are unemployed, down from 7.1 percent in 2017.
Most New Zealand residents have incomes of less than the national average of $31,200 a year.
The median annual income in the country was $50,200 last year.
More: Lanchester says the world’s poor are suffering from the same “famine-like” conditions that caused the Great Depression.
Laughably, Lanchester said, the “rich are doing just fine.”
Lately, New Zealand is seeing a surge in the number and severity of housing and homelessness crises.
With more than 1 million New Zealand citizens homeless, and a record-breaking population of 2.2 million, New Zelandians are experiencing a shortage of housing.
And the state’s housing shortage is particularly acute in the capital city of Wellington.
On the heels of a housing shortage crisis in the city, the Ministry of Housing is preparing to sell about 500 of the city’s homes.
A spokesman for the Ministry said it is “working with local authorities to ensure that existing housing is available for rental, to help alleviate the shortage of homes in the Wellington region.”
The government is also planning to sell some properties it owns in the suburbs of Wellington to fund more affordable housing, and it has started discussions with developers about the sale of more properties to developers.
Some housing is being snapped up in New South Wales, Victoria, and Tasmania.
Despite the financial crisis, the Australian Bureau of Statistics said the number, income, and percentage of working households with incomes below the national median fell between January and March of this year.
This means that about 1.3 percent of working people in Australia have incomes below $22,000.
For more information, visit the Institute’s website at: https://www.ipos.org.au/index.php?id=1116