OECD defines the “middle class” as those earning between 75% and 200% of the median national income. Middle-income individuals constitute the largest proportion of citizens across OECD member countries, with 61% of the population falling within this classification, 30% in the lower-income class and 9% in the upper-income class.
SINGAPORE (Apr 15): With income growth falling increasingly far behind the rise in house prices, the middle class is struggling to keep up. Governments need to give more support and help address gaps in social inequality, says the Organisation of Economic Co-operation and Development (OECD) on April 10.
“Today the middle class looks increasingly like a boat in rocky waters,” says OECD secretary-general Angel Gurría. “Governments must listen to people’s concerns and protect and promote middle-class living standards. This will help drive inclusive and sustainable growth and create a more cohesive and stable social fabric.”
