Pew: 84% of world population lives at or below U.S. poverty line
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Eighty-four percent of the world’s population had less than $20 to spend daily in 2011, an amount that puts them at or below the U.S. poverty line, reports a new Pew survey.
The world’s middle class family of four lives on $10-20 per day, which translates to $14,600 to $29,200 annually, reports Pew. By contrast, the official poverty line in the United States in 2011 was $23,021 for a family of four. “Even those newly minted as middle class enjoy a standard of living that is modest by Western norms,” said the report.
The study used purchasing power parities to account for differences in the cost of goods and services and exchange rates across countries. It compared 111 countries in 2011, the most recent year for which data is available, with 2001.
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