How much does it take for a family to be considered poor in the Philippines? How about rich?
The think tank attached to the National Economic Development Authority (NEDA) shared the income brackets used to classify families according to socioeconomic class at a Senate hearing Thursday (September 17).
Based on information shared by the Philippine Institute for Development Studies (PIDS), here’s the corresponding monthly income that a family of five needs to fall under a particular socioeconomic class:
Low income but not poor – P10,957-P21,914
Lower middle income – P21,914-P43,828
Middle middle income – P43,828-P76,699
Upper middle income – P76,699-P131,484
Upper income but not rich – P131,484-P219,840
Rich – at least P219,840
Based on PIDS’ data, there were around 8.4 million low income families in the Philippines in 2018, while 7.5 million could be considered lower middle income.
Around 4.3 million families belong to the middle class and upper middle class. There were 385,000 families deemed upper middle class but not rich, while some 143,000 families were considered rich.
The think tank attached to the National Economic Development Authority (NEDA) shared the income brackets used to classify families according to socioeconomic class at a Senate hearing Thursday (September 17).
Based on information shared by the Philippine Institute for Development Studies (PIDS), here’s the corresponding monthly income that a family of five needs to fall under a particular socioeconomic class:
Low income but not poor – P10,957-P21,914
Lower middle income – P21,914-P43,828
Middle middle income – P43,828-P76,699
Upper middle income – P76,699-P131,484
Upper income but not rich – P131,484-P219,840
Rich – at least P219,840
Based on PIDS’ data, there were around 8.4 million low income families in the Philippines in 2018, while 7.5 million could be considered lower middle income.
Around 4.3 million families belong to the middle class and upper middle class. There were 385,000 families deemed upper middle class but not rich, while some 143,000 families were considered rich.
