[경제]Distribution deterioration for two consecutive quarters in the aftermath of Corona 19…work and business income for three consecutive quarters↓

[앵커]

In the aftermath of Corona 19, income distribution between high- and low-income households deteriorated for two consecutive quarters.

Earned income and business income declined for the third consecutive quarter due to the decline in jobs and the sluggish self-employment industry.

Connect reporters. Reporter Taemin Kim!

Statistics released today that income polarization continues to worsen.

[기자]

Statistics show that amidst the continuing difficulties in employment and income for the vulnerable class, income polarization is worsening.

According to the household trend data for the fourth quarter of last year released by the National Statistical Office, the quintile ratio of disposable income compared to the income of the top 20% households with the bottom 20% was 4.72 times, up 0.08 times from the same quarter of the previous year.

The quintile ratio expanded for the second consecutive quarter compared to the same quarter of the previous year, which means that the income gap between high-income households and low-income households continues.

The average monthly income of households in the fifth quintile with the highest income in the fourth quarter of last year was 10.26 million won, an increase of 2.7%, while the average monthly income of households with the lowest income was 1.64 million won, a mere 1.7% increase.

However, the quintile multiplier gap has narrowed compared to the third quarter.

In addition, the labor income and business income declined for the third consecutive quarter due to the decline in jobs and the sluggish self-employment industry due to the prolonged COVID-19 outbreak.

In particular, the earned income of low-income households in the first quintile fell by 13.2% due to poor employment, the largest decline in two years.

On the other hand, due to the government’s second disaster subsidy, the previous income increased by 25.1% and the income of all households increased by 1.8%.

The government is playing a role in supporting the market income, which has been reduced in the aftermath of the prolonged period of Corona 19, through policy support.

Household consumption expenditures continued to decline by 0.1% due to the strengthened distancing effect.

While consumption of grocery and household items increased, spending on going out and travel, and in the face-to-face service sector such as clothing and entertainment, and food and lodging decreased.

The government announced that it will continue to strengthen its policy efforts to reduce the gap and provide livelihood support for the victims based on strict awareness of the current income and distribution situation in the fourth quarter.

So far, the Ministry of Economy has delivered it.

[저작권자(c) YTN & YTN plus 무단전재 및 재배포 금지]