A new study has found that the likelihood of Canadians staying within the same income and wealth class as their parents has increased significantly.
The report, released Wednesday by Statistics Canada, measured the incomes of five different cohorts of children born between the 1960s and 1980s, as well as that of their parents.
Children born to the wealthiest generation, baby boomers, were more likely to remain in the highest earning income class. On the other hand, children born to the age group which saw a lot of that wealth skip them, Generation X, were even more likely to remain among the bottom wealth bracket of society.According to him, the children of baby boomers most likely saw the benefits of that wealth — like a better education or money to help pay a mortgage — aid them in earning as much as their parents. The same effect was felt even stronger by the generation of kids born from parents who were in the lowest income bracket, ultimately widening the income gap in Canada.
Content created and supplied by: Ghostkotin (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform