1. What is the state of Canadians in terms of socioeconomic status? Describe what level of poverty exists in Canada and whether or not you think Canada is fair in terms of distribution of wealth and income.
Canada is one of the few countries in the world that is richly endowed with a diversity of natural resources such as natural gas, petroleum and coal. It does have oil reserves estimated to be 183B gallons, making it to be the third largest oil reserve after Saudi Arabia and Venezuela as well as it is the fifth largest oil producer. The country is also the world’s 5th largest producer of natural gas and the 4th largest exporter of the same after Russia, Norway and Qatar. The economy of Canada is largely dependent on the United States for …show more content…
The poverty costs of Canada as a whole range between $72 billion and $84 billion annually. The rates of precarious employment have increased by almost 50% within the past two decades. The distribution of income and wealth in this country is highly unequal due to the richest group within Canada have increased their shares of the total income while the middle and poorest groups have in this time frame lost their shares. Compared to other countries, Canada’s distribution is relatively fair in terms with its distribution of income and wealth (Country Report-Canada …show more content…
For someone who have lived in both industrialized and third world countries, Canada does a good job with providing support services/ resources to Canadians who needs assistance. For example, in the Philippines if you’ve been laid off, you can’t expect to have income until you get a new job. The reason behind this is that, there is no such thing as Employment Income in the Philippines. Unlike Canada, when you lose your job, you could apply for Employment Income and that would act as your safety net until you find a new job. Utilization of these types of safety nets is of course subject for approval, although temporary, knowing that there are options available to the working population when they lose their job helps living become more
Canada is one of the few countries in the world that is richly endowed with a diversity of natural resources such as natural gas, petroleum and coal. It does have oil reserves estimated to be 183B gallons, making it to be the third largest oil reserve after Saudi Arabia and Venezuela as well as it is the fifth largest oil producer. The country is also the world’s 5th largest producer of natural gas and the 4th largest exporter of the same after Russia, Norway and Qatar. The economy of Canada is largely dependent on the United States for …show more content…
The poverty costs of Canada as a whole range between $72 billion and $84 billion annually. The rates of precarious employment have increased by almost 50% within the past two decades. The distribution of income and wealth in this country is highly unequal due to the richest group within Canada have increased their shares of the total income while the middle and poorest groups have in this time frame lost their shares. Compared to other countries, Canada’s distribution is relatively fair in terms with its distribution of income and wealth (Country Report-Canada …show more content…
For someone who have lived in both industrialized and third world countries, Canada does a good job with providing support services/ resources to Canadians who needs assistance. For example, in the Philippines if you’ve been laid off, you can’t expect to have income until you get a new job. The reason behind this is that, there is no such thing as Employment Income in the Philippines. Unlike Canada, when you lose your job, you could apply for Employment Income and that would act as your safety net until you find a new job. Utilization of these types of safety nets is of course subject for approval, although temporary, knowing that there are options available to the working population when they lose their job helps living become more