As of 2023, around 9.2% of the global population (approximately 719 million people) live on less than $2.15 per day, the international threshold for extreme poverty. The COVID-19 pandemic and ongoing conflicts have reversed years of progress, pushing an additional 70-100 million people into extreme poverty since 2020.
Beyond income, about 1.3 billion people globally experience multidimensional poverty, which considers various deprivations such as lack of education, inadequate living standards, poor health, and lack of access to clean water and sanitation. Nearly half of these people are children under the age of 18.
Women worldwide earn, on average, 20% less than men. In many countries, women are more likely to work in low-paying, informal, or insecure jobs. Women also perform three times more unpaid care work than men, contributing to economic inequality.
Around 15% of the global population (over 1 billion people) have some form of disability. People with disabilities are more likely to experience adverse socioeconomic outcomes, such as less education, poorer health, lower employment rates, and higher poverty rates.
Ethnic and racial minorities often face systemic barriers to economic opportunities. For instance, in the United States, the poverty rate for Black and Hispanic Americans is more than double that of White Americans, reflecting persistent social and economic inequalities.
LGBTQ+ individuals often experience higher levels of discrimination, exclusion, and poverty. In many countries, they are denied equal access to housing, education, healthcare, and employment opportunities. A 2019 study found that the economic exclusion of LGBTQ+ people costs up to 1.7% of a country's GDP.
The world's richest 1% hold more than 45% of global wealth, while the bottom 50% collectively own less than 1%. Wealth inequality continues to widen, with the top 1% capturing nearly twice as much income growth as the bottom 50% over the past four decades.
The average income of the richest 10% of the global population is nine times higher than that of the poorest 50%. Countries with high levels of income inequality tend to have weaker social mobility, meaning that people born into poverty have fewer chances to escape it.
Many low-income and developing countries lose billions in revenue annually due to tax avoidance by multinational corporations. According to the Tax Justice Network, developing countries lose approximately $100 billion per year to corporate tax abuse, which could be invested in public services like healthcare and education.
About 1.4 billion adults worldwide remain unbanked, meaning they do not have access to basic financial services such as savings accounts, credit, or insurance. The lack of financial inclusion limits opportunities for economic empowerment and perpetuates cycles of poverty.
Approximately 356 million children (1 in 6 children) live in extreme poverty. Children living in poverty are less likely to have access to education, healthcare, and nutritious food, and are at higher risk of exploitation, abuse, and neglect.
More than 250 million children and adolescents are currently out of school, and many of those in school do not receive quality education. Disparities in education are closely linked to poverty, gender, ethnicity, and location, with girls, rural children, and marginalized groups being disproportionately affected.
Around 2 billion people still lack access to safely managed drinking water services, and 3.6 billion people lack safely managed sanitation services. Lack of access to clean water and sanitation disproportionately affects rural areas and marginalized communities, perpetuating cycles of poverty and exclusion.
At least half of the world’s population lacks access to essential health services. Out-of-pocket health expenditures push nearly 100 million people into extreme poverty every year.
By 2030, climate change could push an additional 132 million people into extreme poverty due to its impact on agriculture, health, and livelihoods. Vulnerable populations in developing countries are most at risk, with lower adaptive capacities to respond to climate shocks.
In 2023, global unemployment stood at around 208 million, with many more people underemployed or working in precarious conditions. Women, young people, and marginalized communities are more likely to be in insecure and low-wage employment.
Over 630 million workers worldwide still live in extreme or moderate poverty, earning less than $3.20 per day. Achieving decent work for all remains a critical challenge for economic justice.
Our mission is to empower marginalized communities in Canada by addressing the root causes of poverty.
© 2024 By Rise Above Poverty Canada Center.