Thursday, November 29, 2012

Latin American poverty rate lowest in three decades

The number of people living in poverty in Latin America and the Caribbean has dropped to its lowest level in three decades due to more jobs and higher wages, according to the study released on 27 November by the UN Economic Commission for Latin America and Caribbean.
Despite lower poverty levels overall, 167 million people in the region are still considered poor. That’s one million fewer than in 2011, and it represents about 29 percent of the region’s population. Of those, 66 million people remain stuck in extreme poverty. 

Poverty in Latin America will continues its downward trend, but at a slower rate than in recent years, thanks to projections of positive economic growth and moderate inflation for the region in 2012
the last decade has seen reduced inequality in income distribution, although this issue remains one of the region's main challenges.
The credit for this goes to the Inclusive Development policies of the governments of the region.

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