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Oxfam: richest one percent hold twice the wealth of billions of people

POSTED January 21, 2020

Oxfam: richest one percent hold twice the wealth of billions of people

The “Time to Care” report shows vast inequality between men and women

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The globe’s richest one percent possesses more than twice the wealth of 6.9-billion people, reports Oxfam’s “Time to Care” equality report.

Meanwhile, women and girls together put in 12.5-billion hours of unpaid care work daily, which amounts to a contribution of $10.8 trillion per year.

”It’s incomprehensible that a wealthy few continue to amass large fortunes, while the majority of the world struggles to make ends meet. Women are stuck in poverty, being robbed of precious time doing unpaid care work when they could be pursuing education and employment opportunities,” said Lauren Ravon, director of policy and campaigns for Oxfam Canada.

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