Nearly one person in ten in Luxembourg has recently experienced at least threee years of financial hardship, a study by Statec has shown.
On the occasion of the International Day for the Eradication of Poverty on 17 October, Statec has examined the social cohesion of Luxembourg through income, labour, languages and health.
In 2016, the average standard of living for individuals ranged from €984/month for the least wealthy 10% to €7,891/month for the wealthiest 10%. Moreover, 10% of the people with the lowest living standards were revealed to own only 3% of the total mass of household income, compared with 24% for the 10% of the most affluent.
This unequal distribution of incomes means that some people are at risk of poverty or are living in poverty, according to the European definition. The persistence rate in poverty is defined as the proportion of individuals at risk of poverty in 2016 and at least twice in the period 2013 to 2015. In 2016, nearly one out of ten were found to be experiencing financial difficulty in Luxembourg.
Indeed, among the results gathered, the study found that income inequality is a risk of poverty and multilingualism is an important factor in social cohesion.