On January 20, 2020, the World Economic Forum released the Social Mobility Index. The index measures social mobility of the population world wide.
What is Social Mobility?
Social Mobility is the upward or downward movement of an individual in personal circumstances in relation to their parents.
The countries’ social mobility was measured based on following 5 key dimensions as follows
- Education-Quality, Access and Equity
- Work-Wages, conditions and opportunities
- Protections and Institutions-Inclusive institutions and social protection
Relative Social Mobility is the assessment of effect of socio-economic background on a person’s life.
Findings of the Report
According to the report, Denmark ranks the first followed by Finland, Norway, Sweden and Iceland. India ranked 76th out of 82 countries.
According to the report, India has improved in the areas of fair wage distribution and social protection. Also India performed better in terms of life-long learning and working conditions. The countries that were benefited out of social mobility includes US, China, India, Germany and Japan.
Impact of 4th Industrial Revolution
According to the report, the fourth industrial revolution has created several social inequalities. It is disrupting labor market by inducing wage disparities.