News

 

 

New Report Reveals Canada’s
Growing Income Gap Between

Rich and Poor

Karry Brar, OP Contributor

Ds Canada’s booming
economy, the gap between rich and poor
is growing, according to a new report on
Canadian household incomes released
last week.

The economic divide is growing
when it should be shrinking — that’s the
conclusion of the Canadian Centre for
Policy Alternatives report, titled ’The
Rich and The Rest of Us: The Changing
Face of Canada’s Growing Gap” by
economist Armine Yalnizyan.

According to Yalnizyan’s research,
the richest 10% of families raising
children now make 82 times more than
the poorest 10% -- that’s almost triple
what they made a generation ago.

And here’s the thing, the gap is no
longer simply about the poor being

left behind. The majority of families
are working more, “playing by all

the rules”, and they’re not getting the
payback. The report also cites that 80%
of families are working harder to stay
in place— with half falling behind in the
process.

“The richest 10% are getting the
lion’s share of economic growth,” said
Yalnizyan in a press statement released
last week with the report. “Their
earnings grew by 30% while most
families saw their incomes rise slightly,
stay in place, or drop. The richest 10%
are literally breaking away from the rest
of us.”

To delve further into the report,
readers can visit www. growinggap.ca
According to the website, Growinggap.
ca, run by the CCPA, is a resource “for
anyone looking to learn more about
income inequality in Canada”. The
content on the site is regularly updated
as the CCPA releases new studies and
snapshots of economic inequalities in
Canadian society.

Online users can also use the website
to access a new “Where do I Fit?”
feature that lets individuals calculate
their own standing on the Canadian
economic scale. Visit www.growinggap.
ca or the CCPA’s website for more
details.

 

 

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