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Erica Yeo

Why the gap between rich and poor in Canada keeps growing - thestar.com - 0 views

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inequality canada challenges wealthgap star

shared by Erica Yeo on 16 Jan 13 - No Cached
  • Information technology has eliminated some middle-skill jobs, such as filing and administration, while globalization has seen high-paid manufacturing jobs outsourced to lower-paid countries, Alexander said.
  • globalization has weakened the lowest earners’ bargaining power as their jobs are outsourced to cheaper countries,
  • The gap has likely widened since the recession in 2008 as more companies moved high-paid manufacturing jobs offshore to countries with lower wage rates, the economists also noted.
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  • Cuts to government programs, such as unemployment insurance, combined with increases in post-secondary education costs are making it hard for the lowest income Canadians to compete in the knowledge economy,
  • The top 10 per cent of Canadians earned 10 times as much as the bottom 10 per cent in 2008, the OECD said. That’s up from a ratio of 8 to 1 in the early 1990s
  • Calling on governments to do more to close the gap, the OECD said the report dispels the theory that tax cuts will have a trickle down effect by promoting economic growth that benefits everyone
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