Thursday, December 18th2.7°C
24124
24285

Commentary text of internal gov't report on Cda's struggling middle class

OTTAWA - An internal federal government report from last fall chronicles the economic struggles of Canada's middle class. Here is the text of the running commentary that accompanies the tables and graphs in the document, entitled "What we know about the middle class in Canada":

There is a slight hollowing out of the middle class in Canada.

The '2 parents-2 kids' stereotype is not representative of the middle class anymore.

The majority of middle-income Canadians live in Ontario or Quebec.

Most middle and higher-income families are headed by a man but decreasingly so.

Heads of middle-income families are getting older ... and more educated.

The market does not reward middle-income families so well ... as a result they get an increasingly smaller share of the earnings pie.

The wages of middle-income workers have stagnated ... and they get lesser government support for work transitions.

Middle-income Canadians are no more likely to move up than down the income ladder.

Wealth is not distributed equally among the middle class ... and middle-income families are increasingly vulnerable to financial shocks.

Basic needs account for a large proportion of middle class' spending ... and many in the middle mortgage their future to sustain their current consumption.

A relatively small proportion of middle-income households experience material deprivation.

... over the medium term, middle-income Canadians are unlikely to move to higher income brackets i.e. the 'Canadian dream' is a myth more than a reality.

(Source: Employment and Social Development Canada, obtained by The Canadian Press under the Access to Information Act)

The Canadian Press


Read more Business News

24175


Recent Trending




Today's Market
S&P TSX14346.75+133.36
S&P CDNX665.50+6.47
DJIA17778.15421.28
Nasdaq4748.396+104.085
S&P 5002061.23+48.34
CDN Dollar0.8630+0.0043
Gold1198.00+3.70
Oil54.82-1.65
Lumber335.90+1.70
Natural Gas3.665-0.037

 
Okanagan Companies
Pacific Safety0.13+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.28+0.01
Cantex0.03-0.005
Anavex Life Sciences0.17+0.0041
Metalex Ventures0.055+0.005
Russel Metals26.00-1.18
Copper Mountain Mining1.57+0.03
Colorado Resources0.12+0.015
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.055+0.005
Mission Ready Services0.225+0.005

 
23744


24387

FEATURED Property
2133586374 McTavish Crescent
5 bedrooms 3 baths
$449,888
more details
image2image2image2
Click here to feature your property
Please wait... loading


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...


Managing your sales team

Managing a sales team can be quite a challenge. Harnessing individual personality preferences and getting everyone focused on the same goals, moving at the same pace, and working in collaboration to d...


Working under the table

They say there are only two things that are certain in life: death and taxes. Not exactly an uplifting thought, but true nonetheless. Some people try to avoid paying tax by “working under the ta...

_








Member of BC Press Council