That gap between Canada’s rich and poor is big- perhaps bigger than you think.
In a new study, economists Nicolas Ruiz and Nicolas Woloszko, challenge recent statistics, saying high-end earners tend to under-report their income, which skews household survey numbers.
Initially it was thought that the country’s top 10 per cent earned about three times as much as the median earners. This new study says the top 10 per cent earn about FOUR times as much as the median earners.
But don’t worry, Canada’s income inequality still maintains its same world-ranking as before, (given by the Organisation for Economic Co-operation and Development): slightly more unequal than the average country.