Today’s chart comes from UNICEF in a powerful report about how the great recession of 2008 has had a painfully lingering effect in child poverty rates in wealthy countries. The report analyses data from 41 OECD countries–these are the worlds wealthiest countries that are traditionally donors to international development — and ranks them based on the degree to which child poverty increased since the global financial crisis of 2008. In 23 out of these 41 countries, levels of child poverty increased. (Larger version here)
Other findings of this report include some striking data on how many years of progress on reducing child poverty were lost during the great recession. From UNICEF
— In Greece in 2012 median household incomes for families with children sank to 1998 levels – the equivalent of a loss of 14 years of income progress. By this measure Ireland, Luxembourg and Spain lost a decade; Iceland lost 9 years; and Italy, Hungary and Portugal lost 8.”
— Child poverty has increased in 34 out of 50 states since the start of the crisis, increasing by about 1.7 million children since 2008. .
-In 18 countries child poverty actually fell, sometimes markedly. Australia, Chile, Finland, Norway, Poland and the Slovak Republic reduced levels by around 30 per cent.
The full report is available here. But this chart demonstrates that the global financial crisis is far from over–even in the world’s wealthiest countries.