The table indicates the individual’s average yearly earning in 8 European countries comparing two years (2008 and 2013) and the income growth ratio.
In overall, there were 4 countries presented increase in their individual’s income, 1 country remained unchanged, and 3 countries reported declined. Obviously Poland reported the highest annual income growth rate while Greece faced with a dramatic decline of their income growth rate.
As can seen, among the 4 countries that illustrated increase of their average yearly income, Luxembourg was highest income country in both years (2008: USD30,000 and 2013: USD35,000) and indicated second largest growth rate of 17%. Surprisingly Poland was the lowest average income country in 2008 (USD18,000), but it jumped significantly to USD22,000 making its growth rate 22% which reached the peak of growth ratio. In addition, Belgium and Austria also experienced growth with rate of 15% and 13% respectively.
Netherlands did not make change during this period which means their average yearly income remained stable with USD29,000 for both years.
On the other hand, of the three countries that reported a decline in growth rate, Greece’s average earning in 2008 was USD23,000, but dropped to USD20,000 becoming the lowest annual income country (of all the eight samples) with growth rate of -13%. Italy also showed its plummeted decreased from USD25,000 to USD22,000 whereas the UK reported a moderated fall of their average annual income of -4%.