VANCOUVER, B.C. — The Fraser Institute is out with a new study suggesting the vast majority of Canadians overtime succeeds in moving up the income ladder.
The study entitled ‘Measuring Income Mobility in Canada, 2016,’ used data from StatsCanada. The data was divided nearly 1 million Canadians into groups based on their income in 1993 with three progress updates after five, ten and 19 years.
Among other things it found, within the first ten years, nearly nine out of every ten Canadians in the lowest group moved to a higher group.
Study co-author Charles Lammam is the Institute’s Director of Fiscal Studies, and suggests the main message here goes to Canada’s high level of income mobility — Because, not only do most low income Canadians move up the income ladder, but many rise to the very top.
He says this dynamic of our economy is ignored too often when inequality, poverty and the nature of success are debated.
Lammam also says we should be grateful that Canada’s economy is one with sufficient dynamism that it allows people to rise up the income ladder — regardless of where they start out.
But while addressing that, he did offer one note of caution, about this countries recent government policies.