Canada’s Wealth Gap Hits Record High — Low-Income Families Struggle to Keep Up
A new Statistics Canada report has revealed that Canada’s income gap has reached historic levels. The top 20% of households now control nearly 65% of the country’s wealth, while the bottom 40% are left with just 3.3%.
This growing inequality comes at a time when unemployment is rising and wages are falling, leaving many low-income Canadians in a precarious financial situation. For thousands of families, government support programs have become essential just to cover basic living expenses like housing, food, and utilities.
Economists warn that if this trend continues, it could lead to even deeper economic and social challenges, especially for immigrant and minority communities who are often the most affected.
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