The class distinction in Spain has increased as a result of the financial crisis. During the crisis years of 2008 to 2014 there has been recorded 50,000 more wealthy people in Spain.
Before the crisis there were 127,100 Spaniards with more than 1 million dollars in cash assets, while in 2014 there were 178,000 people who had such high cash assets. The study presented by OECD, does not take wealth in the form of housing in the calculation.
The income of the poorest 10% in Spain fell by 13 percent in the period 2007-2011, while the income of the richest 10% only declined by 1.5%. The 10% richest in Spain owns 43% of all household wealth while the bttom 60% only own 20% of all household wealth. By comparison, owns 10% richest of all OECD countries averaged 50% of all wealth.
Unemployment in Spain is being blamed for the fact that the difference between rich and poor has increased during this period. Spain has. The number of people living under the poverty limit in Spain is 18%, almost twice as many as before the financial crisis and this is also twice as much as the average for all OECD countries.
Poverty in Spain has also changed character. Prevoiusly it was the elder that dominated the poverty statistics, but now young people and children are most prone to end upbeing poor sais the OECD report In It Together, which is available in Spanish and English.