Income Inequality In The Philippines
2.1 Household Income There are many studies that seek to evaluate the income of different households. In United States of America, Schanzenbach et al. (2015) assessed the purchasing behavior of consumers by accounting the past 30 years. The findings of the study indicate that majority of those who are in low-income class today spend their income more on basic needs such as food, transportation, housing, clothing among others. It can also be observed that as the income of people who belong in this social class increases, only a small portion of their additional income goes to basic needs. While low-income households spend most of their income to housing and food, those in middle-income households devote most of their income to housing and …show more content…
(2015) investigated the status of income inequalities in the country as well as inequalities in education and labor. The researchers found that poverty in the country, as measured by income and expenditure, did not change from 2003 to 2009. Findings also show countries that provide more pro-poor programs have lesser cases of income inequality. While the measure of poverty depends mainly on income, this might not be the best means to measure the welfare of the people. One reason stated for this is the increased ownership of durable goods of both poor and non-poor households despite economic crisis in the years mentioned. In order to address poverty and hopefully reduce income inequality in the country, the researchers suggest that the government should invest more in education and programs that seek to expand people’s opportunities, leading to a more inclusive …show more content…
It assessed how these changes in assets affect income and expenditures patterns of Filipinos. It found out that Filipinos’ consumption growth is higher than their income growth which resulted to a lower portion of their savings. This decline in savings is primarily because of the extension coverage of social securities in work labor. Their findings also suggest that Filipinos’ saving behavior is not really affected by demographic factors but of social security programs which include health insurance, disability insurance and life insurance. The more social securities are available, the less likely Filipinos will
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