Masthead graphic based on a painting by Gudrun Thriemer.

Tuesday, October 21, 2008

"Growing unequal 2008: Canada country note," OECD, October 21, 2008.

After 20 years of continuous decline, both inequality and poverty rates have increased rapidly in the past 10 years, now reaching levels above the OECD average.

In the last 10 years, the rich have been getting richer leaving both middle and poorer income classes behind. The rich in Canada are particularly rich compared to their counterparts in other countries – the average income of the richest 10% is US$ 71,000 in purchasing power parities, which is one third above the OECD average of US$54,000. The poor and the middle classes are also richer than the OECD average, but by less -- their average incomes are only 18% above that of their counterparts in a typical OECD country.

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