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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.
By March 2022, food banks across Canada recorded nearly 1.5 million visits, marking an all-time high, with approximately 2.8 million Canadians living in poverty by September 2023. [35] A comprehensive Food Banks Canada report stated that multiple factors, including the COVID-19 pandemic, the economic consequences of the Russian invasion of ...
The economic impact of immigration to Canada is an important topic in Canada.Two conflicting narratives exist: 1) higher immigration levels help to increase GDP [1] [2] and 2) higher immigration levels decrease GDP per capita or living standards for the resident population [3] [4] [5] and lead to diseconomies of scale in terms of overcrowding of hospitals, schools and recreational facilities ...
Lack of employment, poor paying jobs, alcohol abuse, poor access to health care and low education levels are all areas in which contribute to the increased risk of poverty. [36] The overall earnings of aboriginal Canadians living in rural areas in significantly lower than non-aboriginals living in more urban areas. [ 33 ]
Canada has one of the highest per-capita immigration rates in the world, [279] driven mainly by economic policy and family reunification. [280] A record 405,000 immigrants were admitted in 2021. [281] Canada leads the world in refugee resettlement; it resettled more than 47,600 in 2022. [282]
The timing of the crisis comes at a critical time, since U.S. President-elect Donald Trump is due to take office on Jan. 20 and is promising to impose a 25% tariff on all imports from Canada ...
The economy of Canada is a highly developed mixed economy, [33] [34] [35] the world's ninth-largest as of 2024, and a nominal GDP of approximately US$2.117 trillion. [6] Canada is one of the world's largest trading nations, with a highly globalized economy. [36] In 2021, Canadian trade in goods and services reached $2.016 trillion. [37]
The Dallas Federal Reserve rated Canadian real estate as "exuberant" beginning in 2003. [1] From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities. [2] In 2016, the OECD warned that Canada's financial stability was at risk due to elevated housing prices, investment and household debt. [3]