2024 Poverty Level Income Inequality. Efforts to reduce poverty and income inequality have made significant progress in recent decades, with the percentage of the global population living in extreme poverty falling. Income inequality impacts a nation both economically and politically, with effects that include political polarization, negative attitudes towards the wealthy, slower gdp growth,.

This note summarizes the methods used by the world bank in measuring global poverty, and by the poverty and inequality platform (pip) in implementing those methods. Deep poverty, defined as “families with less than half of the resources to meet basic needs,” was at 3.4%.