Mexico: Nearly 50 percent of population lives in poverty

2012-02-11 17:11:58 GMT+7 (ICT)

MEXICO CITY (BNO NEWS) -- Nearly 50 percent of Mexico's population currently lives in poverty amid rising food prices and other basic expenses, according to a study recently released by the National Council of Politics and Social Development Evaluation (Coneval) on Friday.

Coneval's report shows that approximately 52 million people in Mexico, representing 46.2 percent of the population, are currently living in poverty. When compared to figures from 2008, this marks an increase of at least 3.2 million people.

The increasing number of people living in poverty is mostly the result of rising food prices and the increasing costs for basic expenses such as education, access to health services, residential quality, basic household services, and social security, especially coverage for senior citizens.

In addition to those, the report points out that the global financial crisis has negatively affected Mexico's labor market, leading to an increase number of people who are unable to find a job. Households, especially in urban areas, also saw a decline in income,

-- © BNO News All rights reserved 2012-02-11

Fewer jobs in the US means less $$ to send back to the family, tough times all around. No end in sight.