Canada reaches lowest poverty rate in history



Canada reaches lowest poverty rate in history

 

Mar. 08, 2019

Global Korean Post

 

Last week, Statistics Canada released results from the 2017 Canadian Income Survey, which revealed that the Poverty Reduction Strategy’s interim target of reducing poverty by 20 percent by 2020 had already been reached—a full three years ahead of schedule.

By meeting this target, Canada has reached its lowest poverty rate in history.

 

The poverty rate of 9.5 percent in 2017 represents the lowest rate of poverty ever based on Canada’s Official Poverty Line (formerly known as the Market Basket Measure).

This historic low poverty rate represents an important step towards the Government of Canada’s goal to cut poverty in half by 2030.

 

With the help of programs such as the Canada Child Benefit and the top-up to the Guaranteed Income Supplement, there were 825,000 fewer Canadians living in poverty in 2017 than there were in 2015.

More are expected to be lifted out of poverty as the impacts of these investments are realized in the years to come.

 

The median after-tax income for 2017 was $59,800, also the highest in Canadian history.

 

A total of 3.4 million Canadians, representing 9.5 percent of the population, lived in poverty in 2017, down from 10.6 percent in 2016.

Between 2015 and 2017, there was a decrease of 52,000 single seniors living below Canada’s Official Poverty Line.

 

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