It is well documented that income inequality is on the rise, with the richest 10 percent earning up to 40 percent of total global income. The poorest 10 percent earn only between 2 percent and 7 percent of total global income. In developing countries, inequality has increased by 11 percent if we take into account the growth of population.
These widening disparities require the adoption of sound policies to empower the bottom percentile of income earners, and promote economic inclusion of all regardless of sex, race or ethnicity.
Income inequality is a global problem that requires global solutions. This involves improving the regulation and monitoring of financial markets and institutions, encouraging development assistance and foreign direct investment to regions where the need is greatest. Facilitating the safe migration and mobility of people is also key to bridging the widening divide.
Goal 10. Reduce inequality within and among countries
|Goals and targets (from the 2030 Agenda)||Indicators|
|10.1 By 2030, progressively achieve and sustain income growth of the bottom 40 per cent of the population at a rate higher than the national average||10.1.1 Growth rates of household expenditure or income per capita among the bottom 40 per cent of the population and the total population;|
|10.2 By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status||10.2.1 Proportion of people living below 50 per cent of median income, by sex, age and persons with disabilities|
|10.3 Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regard||10.3.1 Proportion of population reporting having personally felt discriminated against or harassed in the previous 12 months on the basis of a ground of discrimination prohibited under international human rights law|
|10.4 Adopt policies, especially fiscal, wage and social protection policies, and progressively achieve greater equality||10.4.1 Labour share of GDP, comprising wages and social protection transfers|
|10.5 Improve the regulation and monitoring of global financial markets and institutions and strengthen the implementation of such regulations||10.5.1 Financial Soundness Indicators|
|10.6 Ensure enhanced representation and voice for developing countries in decision-making in global international economic and financial institutions in order to deliver more effective, credible, accountable and legitimate institutions||10.6.1 Proportion of members and voting rights of developing countries in international organizations|
|10.7 Facilitate orderly, safe, regular and responsible migration and mobility of people, including through the implementation of planned and well-managed migration policies||
10.7.1 Recruitment cost borne by employee as a proportion of yearly income earned in country of destination
10.7.2 Number of countries that have implemented well-managed migration policies
|10.a Implement the principle of special and differential treatment for developing countries, in particular least developed countries, in accordance with World Trade Organization agreements||10.a.1 Proportion of tariff lines applied to imports from least developed countries and developing countries with zero-tariff|
|10.b Encourage official development assistance and financial flows, including foreign direct investment, to States where the need is greatest, in particular least developed countries, African countries, small island developing States and landlocked developing countries, in accordance with their national plans and programmes||10.b.1 Total resource flows for development, by recipient and donor countries and type of flow (e.g. official development assistance, foreign direct investment and other flows)|
|10.c By 2030, reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per cent||10.c.1 Remittance costs as a proportion of the amount remitted|