Income inequality in Canada is on the rise
Income inequality in Canada has increased over the past 20 years. While Canada reduced income inequality in the 1980s, it rose sharply in the 1990s and remained at that relatively high level in the 2000s.
Canada currently ranks 12th out of 17 peer countries on income inequality, as measured by the Gini coefficient. 1 Denmark and Norway have the lowest income inequality among the group and the U.S., in 17th place, has the highest income inequality.
The causes of rising inequality tend to fall into two broad categories: market forces and institutional forces.
Market forces, particularly skill-biased technical change and increased globalization, are increasing demand for highly skilled labour. … An alternative explanation, put forward by economist Paul Krugman and others, is that the increase in inequality can be attributed to institutional forces, like declines in unionization rates, stagnating minimum wage rates, deregulation, and national policies that favour the wealthy… Full article
The Broker, by Brenda LafleurTags: canada, income inequality, poverty