Oxfam says Mexico’s income inequality has worsened

Rich and poorAssociated Press

A new report by the Oxfam aid organization says Mexico’s income has become more concentrated among a few business magnates.

Mexico’s Carlos Slim is the world’s second-richest man, but the minimum wage is just $4.50 per day. Slim’s estimated 5 percent return on wealth alone would pay for 2 million minimum wage workers.

Wednesday’s report says Mexico’s wealthiest 1 percent receives 21 percent of income, and the richest 10 percent have 64 percent of the country’s wealth.

In 2002, four billionaires received 2 percent of Mexico’s GDP. By 2014, their share had grown to 9 percent.

The report is part of a global campaign against economic inequality.

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