In the case of countries four distinct groups emerge – ‘Older affluent’, ‘Older Middle Class’, ‘Family Lower Middle Class’ and ‘Young Poor’. Figure 3: Long term Age Profile of the Older Affluent Segment. Their GDP per capita is projected to grow at 1% per annum which is lower than that of the other segments. 20 July 2020: New data are available for Finland, Norway, Sweden and the United Kingdom (income year 2018), the Slovak Republic (income year 2017) and Switzerland (income years 2016 and 2017). All rights reserved. Optionally plot income distribution for other ages using the pull-down menu. Global basic income or world basic income is the concept of giving everyone in the world a guaranteed minimum sum of money on a regular basis. However, their younger population is declining in absolute size as a result of declining birth rates and a reducing number of persons of child bearing age. In total population terms these countries collectively are projected to grow from 1.3 bn persons to 2.5 billion in the next 25 years – that is double in size. The Young Poor (median age below 25 years – lowest is 14 years – and GDP per capita ranging from a low of US$337 pa. up to US$5,000 with one exception above that). A second striking and very positive global development shown in this chart is the rise of the global median income. Do appreciate that there is considerable variance within each segment in terms of Population size (and hence total GDP). GDP is used as it indicates the quality of lifestyle that residents of the country have. The median age of this segment is over 35 years, and GDP per capita mainly over US$5,000 pa – there are 3 below that – and below US$30,000. In this month’s demographic insight, we have grouped the 109 countries we cover into four logical segments using just two criteria – median age and GDP per capita. Interestingly the four segments are of relatively similar size in terms of number of countries (but not population) but they have radically different growth prospects as detailed below. With the financial shocks experienced over the past decade, even those lucky enough to have … We report results based on 126 countries for which complete data on income inequality and mortality by age and sex were available around the year 2002, and which include 94.4% of the world's population. Powered by .Stat technology | © OECD. In short total Population growth comes from people living longer rather than births. The Company was formed in 1997 and has been building its databases, forecast models, and reports since then. Market segmentation is a well understood marketing tool. It also has a bias to the Eastern European countries which were formerly communist. The global average median age was 29.6 years in 2015 – half of the world population were older than 29.6 years, and half were younger. This segment is effectively family stage lower middle class. The Older Affluent (median age over 35 and GDP per capita over US$30,000 pa). WID.world uses 2011 Purchasing Power Parity round for international comparisons. After the age of 35, the percentage of people earning $50K or more is surprisingly consistent until retirement age, hovering between 42% and 48%. Figure 4: Long-term Age Profile of Older Middle-Income Segment. Family Lower Income (median age between 25 years and 35 years and GDP per capita mainly between US$3,000 and US$15,000) and . In the case of China it provides data separately for urban and rural populations. Like the previous segment, in total population growth is minimal (-0.5% in total over the next 25 years) and the younger segments tend to decline significantly (16% in total) but the over 64-year age group doubles in absolute size. As such their population profile is of serious concern for the world. Table 1 below shows the projected share of Population and GDP and relative GDP per capita for the regions. These countries have low productivity and poor governance which means they are poorly equipped to provide adequate education and health services for their existing population. Perhaps not the nicest of titles but it describes exactly what is in this segment of countries. Countries in this segment have a median age over 35 years (the highest is 47 years) and a GDP per capita in excess of US$35,000. CTBC Global Silver Age Income Fund is an open-end fund incorporated in Taiwan. In terms of total Population size there is growth – but it is in the over 25 year age groups. Median age is used as the age profile of a country is a good indicator of the dominant life stages for a country and hence the pattern of development that will take place in the next 20 years. This means that what some people regard as a demographic dividend is in reality going to be a demographic liability (or, dare one say,  – disaster). Please note that: It was only possible to provide a 16-24 age breakdown, instead of the 18-24 breakdown as requested. Growth is uniform across all age groups as shown in Figure 6: Figure 6: Long Term Age Profile of the Young Poor Segment. In the short-term food, water and political stability can be alleviated if not fixed, but it takes a generation to cure education and health issues. The Older Middle Income (median age over 35 years, GDP per capita mainly over US$5,000 pa – there are 3 below that – and below US$30,000), Family Lower Income (median age between 25 years and 35 years and GDP per capita mainly between US$3,000 and US$15,000) and. income distributions are only approximated, using various more or less reliable methods. They are very young, over half their population is under the age of 25 years and in some cases under 20. Age and Income are a useful top level cut for segmenting countries as well as consumers. This is particularly so if we wish to study global inequality in the long-run, covering the 19th century as well—a topic which I will discuss in Section 3 below. There are simply not enough employment opportunities. As a concept it also works well for countries. This is a reflection of (a) the higher base of US$ 48,000 and (b) they have less upside in both education and infrastructure support as the level currently available is already high by global standards and these are the two key variables that drive labour force productivity. The median age of this group of countries is between 25 years and 35 years and GDP per capita mainly between US$3,000 and US$15,000. Using these two criteria the 109 countries grouped into four quite distinct segments. In this post are United States Individual Income Brackets by Age for 2020.You'll also find average income by age, plus median and top 1% by age. Overall we see that higher-income countries, across North America, Europe and East Asia tend to have a higher median age. Please try again or select another dataset. The youngest was Niger at 14.9 years. We said: Thank you for your request for estimates of UK average disposable income by age bands. (ISBN: 9783790800302) from Amazon's Book Store. Already Nigeria (for example) is unable to find sufficient jobs for its young people entering working age. Table 1:  Relative Importance of Segments by Total Population and Total GDP and GDP per capita – 2018 and 2043. The average income is calculated by gross national income and population. Generational income Analysis of household income by age and decade of birth from 1977 to financial year ending 2018. World Bank staff estimates based on age/sex distributions of United Nations Population Division's World Population Prospects: 2019 Revision. The $100K Threshold By grouping countries according to their similarity on key dimensions we can gain an understanding of how the different groups may develop and plan business and investment strategy accordingly. Thank you for your request for disposable income by age group. Lining the pockets of the world’s billionaires. Search is too long (150 characters maximum), Gender, Institutions and Development Database, Gender, Institutions and Development Database (GID-DB) 2019, Social Institutions and Gender Index 2019, Gender, Institutions and Development Database 2014 (GID-DB), Gender, Institutions and Development Database 2012 (GID-DB), Gender, Institutions and Development Database 2009 (GID-DB), Social Protection and Well-being – Archives, Current Well-being (average and deprivation), Current Well-being (horizontal inequality)-by sex, Current Well-being (horizontal inequality)-by age, Current Well-being (horizontal inequality)-by education, Public and Private Social Expenditure by country, Public expenditure on disability and sickness cash benefits, in % GDP, Public expenditure on family by type of expenditure (cash and in kind), in % GDP, Public expenditure on old-age and survivors cash benefits, in % GDP, Adequacy of Guaranteed Minimum Income benefits, Gross Replacement Rate of unemployment benefits, Gross Replacement Rate of unemployment benefits - Historical data, PTR for families claiming Guaranteed Minimum Income (GMI) benefits, PTR for families claiming Unemployment Benefits and using childcare services, PTR for families claiming Unemployment Benefits, PTRs for parents claiming Guaranteed Minimum Income (GMI) benefits and using childcare services, Net childcare cost for parents using childcare facilities, Gender Institutions and Development Database (GID-DB) 2019, Restricted Access to Productive and Financial Resources, Social Institutions and Gender Index 2014 (SIGI), Social Institutions and Gender Index (SIGI), Gender, Institutions and Development Database (GID-DB), Indicators of gender equality in entrepreneurship, Share of employed who are employers, by sex, Share of employed who are own-account workers, by sex, Share of self-employed in the population of 20-29 year old employed, by sex, Share of self-employed in the population of employed with tertiary education, by sex, Share of self-employed in the population of employed with foreign-citizenship, by sex, Share of self-employed who are between 20 and 29 years old, by sex, Share of self-employed in manufacturing or construction, by sex, Share of self-employed in services, by sex, Share of the population with account in a financial institution, by sex, Share of the population who report borrowing money to start a business, by sex, Positive business status and outlook, by sex, Attitude towards entrepreneurial risk, by sex, Access to training and money to start a business, by sex, Share of sole-proprietor enterprises owned by women, Indicators of gender equality in employment, Employment/population ratio, by sex and age group, Employment and unemployment rate, by sex and age group, quarterly data, Share of employed in part-time employment, by sex and age group, Share of employed in involuntary part-time employment, by sex and age group, Full-time equivalent employment rate, by sex, Share of employed in temporary employment, by sex and age group, Share of employed who are managers, by sex, Female share of seats on boards of the largest publicly listed companies, Distribution of employment by aggregate sectors, by sex, Time spent in paid and unpaid work, by sex, Expected number of years in retirement, by sex, Length of maternity leave, parental leave, and paid father-specific leave, Enrolment rates in pre-primary education or primary school, children aged 3 to 5 year old, By indicator - The labour market position of families, By indicator - Public policies for families and children, By country - The labour market position of families, By country - Public policies for families and children, Monthly Monetary and Financial Statistics (MEI), Bilateral Trade by Industry and End-use (ISIC4), Income from self-employment and from goods produced for own consumption (current prices), Income from self-employment (current prices), Capital and private transfers (current prices), Current transfers received (Current prices), Taxes and social security contributions paid directly by households (Current prices), Median disposable income (current prices), All age groups: mean disposable income (current prices), Age group 0-17: mean disposable income (current prices), Age group 18-25: mean disposable income (current prices), Age group 26-40: mean disposable income (current prices), Age group 41-50: mean disposable income (current prices), Age group 51-65: mean disposable income (current prices), Age group 66-75: mean disposable income (current prices), Age group 76+: mean disposable income (current prices), Gini (disposable income, post taxes and transfers), Gini (market income, before taxes and transfers), Poverty rate before taxes and transfers, Poverty line 50%, Poverty rate after taxes and transfers, Poverty line 50%, Mean Poverty gap after taxes and transfers, Poverty line 50%, Median Poverty gap after taxes and transfers, Poverty line 50%, All age groups: Poverty rate after taxes and transfers, Age group 0-17: Poverty rate after taxes and transfers, Age group 18-25: Poverty rate after taxes and transfers, Age group 26-40: Poverty rate after taxes and transfers, Age group 41-50: Poverty rate after taxes and transfers, Age group 51-65: Poverty rate after taxes and transfers, Age group 66-75: Poverty rate after taxes and transfers, Age group 76+: Poverty rate after taxes and transfers, Poverty rate before taxes and transfers, Poverty line 60%, Poverty rate after taxes and transfers, Poverty line 60%, Mean Poverty gap after taxes and transfers, Poverty line 60%, Median Poverty gap after taxes and transfers, Poverty line 60%, Purchasing Power Parities for private consumption, Data extracted on 12 Dec 2020 07:31 UTC (GMT) from. Buy On Global Aging: Old-Age Income Systems in the EU and Other Major Parts of the World (Contributions to Economics) 2003 by Kune, Jan B. This means that, out of the three billion persons under the age of 24 in the world as of 2007, approximately 1.5 billion were living in situations in which they and their families had access to just nine percent of global income. Figure 1:  Geographical Plot of the Older Affluent (Red) and Older Middle-Income Segments (Dark Blue), Figure 2: Geographical Plot of the Family Lower Income (Blue) and Young Poor (green) Segments. ET Comments "We actually do need to protect all age groups," he told a briefing for journalists. GDP minus consumption of fixed capital, plus net foreign income – which do not exist elsewhere. There is no easy solution to this, and poor governance is exacerbating it. In contrast the 65 plus age group is projected to grow by 45%. Effectively middle class in global terms. Japan had the highest median age at 46.3 years. Incomes are gross – pre-tax – and earned between January and December 2019 (the survey is taken in March 2020, so income is pre-COVID-19). Leading Coverage: 106 Countries, 31 China Provinces, 611 China Cities, Rich Data Ranges From 2005 with  Forecasts to 2037, Suite 1106-8, 11/F.Tai Yau BuildingNo. Commentators tend to jump to the conclusion that these countries have an impending problem of ‘not enough workers.’ This is wrong. As such they all tend to have quite high (by global standards) education levels and good basic infra structure. In our comparison over 78 countries, the USA comes 9th with an average income of 65,760 USD. The proportion of adults in work has declined in the last 5 years even when global economies have been in growth. The data for all countries runs from 2005 to 2043. Global gamer share worldwide in 2017, by age and gender Share of paying gamers in the U.S. as of May 2018, by age and gender Age of U.S. video game players in 2020 There is literally a tsunami of poorly educated young people emerging which will not be able to find work and support themselves or their families. It is the segment with the fastest projected growth in affluence – leveraging a forecast rapid improvement in education profile of the labour force as a result of many young people who are better educated than their elders entering the workforce (more, better educated workers means greater productivity per worker and greater total production). As a consequence, we are able to offer consistent global series on national income – i.e. 181 Johnston RoadWanchai, Hong Kong, Copyright © 2016 Global Demographics. The two figures below show the geographic location of these four groups. The attached spreadsheet contains the nearest figures we have that meet your request. In 2003 half of the world population lived on less than 1,090 international-$ per year and the other half lived on more than 1,090 international-$. While it represents a growing potential labour force (which some commentators call ‘good demographics’) the unfortunate reality is that these same countries are very unproductive and cannot afford to offer their citizens education and health care. Average income around the world The worldwide highest income is earned in Monaco. For More Detail on individual countries subscribe to our online database. In fact all segments under 65 years of age decline marginally (3-5% in total) over that period. The last segment – ‘Young Poor’ – which is almost exclusively in the African Continent has population dynamics which are of serious concern. Distribution of median and mean income and tax by age range and gender: 2010 to 2011 MS Excel Spreadsheet , 52.5KB This file may not be suitable for users of assistive technology. global and by country income group, 1998–2020 (percentages) 8 1.4 Distribution of employment by aggregate sectors, global and by country income group, 1991 and 2018 (percentages) 14 1.5 Changes in extreme and moderate working poverty, 1993–2018 16 1.6 Real wage growth, global and by country income group, 2000–17 (percentages) 17 The reason for the slow increase is that in these countries life expectancy is into the 80s and that combined with a historically good education system and increasingly nonphysical work means that a significant proportion (24% of males aged 70 to 74 years in the USA and Japan for example) are still in full time employment. Poor education means birth rates continue to be very high (over 100 per thousand women of child bearing age) and this maintains the steady stream of young people and exacerbates the problem as the number of persons of child bearing age continues to increase – and in many cases more than offsets any decline in the birth rate taking place. Compared to the average AGI for all taxpayers of $69,317 and the average of $18,798 of the 18 under 26 age group, we can see that incomes tend to rise as taxpayers grow older and more experienced. Which Countries can afford the Covid-19 Vaccine? As shown in Figure 1 (red countries) it includes China (which dominates this segment in population terms) and Russia. Everyday low prices and free delivery on eligible orders. Yet their population will double in the next 25 years. In addition, the aged worker has an established and employable skill set. License : CC BY-4.0 Line Bar Map The smallest budget per capita exists in the Democratic Republic of the Congo. Yet, we have little information in low-income and middle-income countries (LMICs) mainly due to lack of data. But pronounced aging like Japan’s does come at an economic cost. This segment is projected to show very little population growth over the next 25 years. Overall, the population of this segment of countries is projected to grow by an absolute 21% over the next 25 years – from 2.989 Bn to 3.6 Bn  an additional 634 million persons – an average of 25 million a year. Obviously, the ‘Family Lower Middle Class’ segment is still growing but the rate of population growth is slowing and the ability to educate, provide adequate health services and employment for them is improving if not already to a good standard. The aim of this study was to analyse trends in the timing and the determinants of … The proposal usually suggests that the basic income be unconditional. Figure 2 displays the movements of the three types of inequalities after the Second World War. Results Own-price responsiveness was highest in lowest income countries, ranging from −0.70 (p<0.100) for women, age 50, to −1.91 (p<0.001) for men, age 80. Lakner, C, and B Milanovic (2016), “Global income distribution: From the fall of the Berlin Wall to the Great Recession”, The World Bank Economic Review 30(2): 203–32. Data have been revised for Belgium and Ireland (income year 2017). 20 July 2020: New data are available for Finland, Norway, Sweden and the United Kingdom (income year 2018), the Slovak Republic (income year 2017) and Switzerland (income years 2016 and 2017). While education in these countries is improving it is still at risk from robotization and AI as well as reduced demand from the key consumer segments – specifically the two preceding segments which account for 81% of the total GDP of the 109 countries we cover and an estimated 93% of global GDP. 181 Johnston Road, Wanchai, China's Slower GDP Growth and Consumer Spending, The Global Picture of Household Spending Power, Importance of China to the Premium Clothing Market, Impact of Changes in One Child Policy on Total Births, China's Labour Force is, and is not, Growing, Upper Income is a Moving Target in Urban China. This is inevitably going to create a social disaster (if it hasn’t already?). For example, in Nigeria (with a current birth rate of 171 per thousand – down from 184 in 2008) – the number of females aged 15 to 49 years increases from 45 million to 87 million in spite of a continued (but small) decline in the birth rate. The big concern here is whether they can find enough jobs. This means that most of the population in these countries is persons aged 25 to 45 – typically in a relationship, and with children. Introduction Understanding the timing and determinants of age at menarche is key to determining potential linkages between onset of puberty and health outcomes from a life-course perspective. Million people are aged 80 years or older ( income year 2017 ) information low-income. Which is lower than that of the 18-24 breakdown as requested the age of 25 years an open-end Fund in. Over 25 year age groups a 16-24 age breakdown, instead of the wider on. Gross income ( AGI ) of $ 99,836 here are limited to Americans who worked ( or wanted work... Is wrong 11/F., Tai Yau building, no consistent global series on national and... For example ) is unable to find sufficient jobs for its young people entering working.... 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In total ) over that period in 1997 and has been building databases! Of fixed capital, plus net foreign income – which do not exist elsewhere by... Worldwide highest income is earned in Monaco using various more or less reliable methods is unable to sufficient. Over that period 16-24 age breakdown, instead of the other segments retained labour supply exceeds the in. The basic income be unconditional the two figures below show the geographic location of these four groups to... Each segment in terms of population and GDP per capita – 2018 and 2043 125 people!