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OECD report finds income inequality rising in Canada

Updated: Mon Dec. 05 2011 16:19:45

CTVNews.ca Staff

A new report finds that the gap between the rich and the poor just keeps getting wider in Canada.

The Organization for Economic Co-operation and Development released a report on Monday looking at the rise of inequality in countries around the world.

Particularly since the mid-1990s in Canada, the report states, the disparity between the rich and the poor has been growing.

In Canada, the report says, the average income of the top 10 per cent of Canadian wage earners in 2008 was $103,500.

That number was 10 times higher than those in the bottom 10 per cent, where average income was just $10,260 per year.

Across all the OECD countries the richest 10 per cent earn about nine times more than the poorest 10 per cent.

In the early 1990s, the report states, the richest 10 per cent of Canadians earned an average of 8 times more than the poorest 10 per cent.

"The rise in inequality was largely due to widening disparities in labour earnings between high and low-paid workers, but also to less redistribution," said the country note for Canada included in the OECD report.

Canada's market income inequality is 12th of the 29 countries included in the survey, which points out that "taxes and benefits reduce inequality less in Canada than in most OECD countries."

The country with the highest inequality between the rich and the poor was Chile, followed by Israel, Italy and Portugal, then the U.K. and the United States.

Korea had the lowest market income inequality, followed by Switzerland, Iceland, Slovak Republic and Sweden.

The study suggests there may no longer be truth to the notion that the poor will automatically benefit as the rich get richer, said OECD Secretary-General Angel Gurria.

"This study dispels the assumptions that the benefits of economic growth will automatically trickle down to the disadvantaged and that greater inequality fosters greater social mobility," Gurria said in a statement.

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