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[13]: 2 The poverty rate in Canada in 2008, was among the highest of the OECD member nations, the world's wealthiest industrialized nations. [6] In 2013, Canada's high poverty rate ranked among the worst of 17 high income countries with 12.1% living in poverty. [91] Canada's child poverty rate was 15.1% compared to 12.8% in the mid-1990s.
According to a Statistics Canada report released in 2017, the purchasing power parity (PPP) for gross domestic income was US$0.84 per Canadian dollar. Comparable items cost one dollar in Canada compared to 84 cents in the United States. Since 1999, the PPP had been "relatively stable". [15]
According to World Bank, "Poverty headcount ratio at a defined value a day is the percentage of the population living on less than that value a day at 2017 purchasing power adjusted prices. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions."
Canada's economy grew at an annualized rate of 1% in the third quarter, undershooting the Bank of Canada's forecast of 1.5%, after growing 2.2% in the prior quarter.
In 1989, with a million children living in poverty in Canada, members of parliament voted unanimously to eliminate child poverty by the year 2000. [2] By 2013, the rate child poverty in Canada was higher than it was in 1989, and was approaching the poverty rates of the mid-1970s in spite of the growth of Canada's economy between 1981 and 2010. [2]
Poverty in Canada has extensive influence on the quality of many aspects of life for rural citizens. With social determinants of health in mind, poverty in rural areas can cause out-migration and population decline, poorer education outcomes, poorer employment opportunities due to transportation costs and child care costs, poorer living and ...