Finland Times

Tuesday, 07 December, 2021
Home BUSINESSIncome differentials down slightly in 2014
Mon, 21 Dec, 2015 12:06:33 AM
FTimes Report, Dec 21
Change in average real income (%) by income decile from 2013 to 2014. Source: Total statistics on income distribution, Statistics Finland.
Income differentials narrowed somewhat in 2014 compared with the previous year, according to Statistics Finland's total statistics on income distribution.
The narrowing of differentials was due to the reduced income of high-income and medium-income groups and the slightly growing income of low-income groups.
The income level of the population's highest-income decile went down by one per cent in real terms from 2013 to 2014. The income level of the lowest-income decile rose by 0.3 per cent, the data show.
The real income of the whole population diminished by 0.4 per cent.
Development of income inequality 1995–2014, Gini coefficient (%).Source: Total statistics on income distribution, Statistics Finland.
The Gini coefficient describing relative income differentials was 0.2 percentage points lower in 2014 than in the year before and received the value 27.0.
The Gini coefficient was at its largest in 2007, compared with which it was over two percentage points smaller in 2014.
Compared with 1995, the Gini coefficient has grown by around five percentage points, most of which is caused by income differentials growing fast in the late 1990s.
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