sabrinaraiblog

In comparison to our neighbouring country, the United States, Canada has seen an increase over the past 10 years in income inequality. The rich are getting richer and the poor are getting poorer as Canada has experienced the fourth largest income inequality increase out of all the neighbouring countries. Although it is said that the United States has the biggest gap between the rich and the poor, Canada’s not too far behind. Countries with high income inequality include South American and southern Africa, and countries with low income inequality are mostly found in Europe. The United States and Canada have medium income inequalities as for now. There is not a lot of information on why the gap is rapidly increasing in Canada since finding solid statistics is challenging, but it is said that “market forces and globalization are increasing disparity.” This income gap is becoming an issue that many do not know of, but business leaders are very worried. At this year’s Economic Forum, income inequality was ranked among the two most serious challenges facing the world today.

http://www.theglobeandmail.com/report-on-business/economy/economy-lab/daily-mix/income-inequality-rising-quickly-in-canada/article2163938/