The Pandemic Stalls Growth in the Global Middle Class, Pushes Poverty Up Sharply
The global middle class consisted of 54 million fewer people in 2020 than the number projected prior to the onset of the pandemic.
The starting point for the analysis is household survey-based estimates of regional income distributions from the World Bank’s PovcalNet database. The global regions are as defined by the World Bank. In this report, “advanced economies” refers to the group of countries listed as “other high income” by the World Bank. These data were used to […]