10 Things About Poverty In Canada
1. It’s Hard To Measure
While 1 in 7 (or 4.9 million) people in Canada live in poverty, there is no official measurement. Low income is one way of measuring poverty. Another is the "basic needs poverty measure” which looks at the absolute minimum resources needed to fulfill physical well-being. The "market basket measure” estimates the disposable income needed to meet basic needs.
2. It’s A Burden On The Economy
Poverty can exert extra health care and social assistance costs. Poverty costs that province between 5.5 and 6.6 percent of its Gross Domestic Product. The national health care costs attributable to poverty are $7.6 billion annually.
3. Too Much Is Spent On Shelter
In 2017, home ownership costs in the GTA were the second highest in Canada, making up 72 percent of a typical household’s monthly pre-tax income. The national average of