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The Financial Resilience and Financial Well-Being of Canadians with Low Incomes (republished January 2024)

https://learninghub.prospercanada.org/wp-content/uploads/2021/11/FRI-insights-and-analysis.png 154 225 Shermeen Beg https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Shermeen Beg2021-11-02 13:50:102024-01-17 16:25:18The Financial Resilience and Financial Well-Being of Canadians with Low Incomes (republished January 2024)

Low-income persistence in Canada and the provinces

Each year, some Canadians fall into low income, while others rise out of it. For example, over one-quarter (28.1%) of Canadians who were in low income in 2017 had exited it by 2018. This study examines the low income exit rate in Canada—an indicator that can be used to track the amount of time it takes for people to rise out of low income. Although a potential surge in low income in 2020 as a result of the COVID-19 pandemic was avoided by temporary government support programs, the rising long-term unemployment rate in 2021 suggests a possible increase in poverty and low-income persistence in the future.



https://learninghub.prospercanada.org/wp-content/uploads/2020/09/stats-can-logo.png 152 225 Carrie Wong https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Carrie Wong2021-08-23 11:35:222021-08-23 11:35:44Low-income persistence in Canada and the provinces
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