Canada’s Poverty Rate Rises to 10.2% in 2023, Fourth Consecutive Year of Increase

📝 DESCRIPTION
Canada’s poverty rate in 2023 has soared to 10.2%, according to Statistics Canada, with nearly 4 million Canadians now living below the poverty line—marking the fourth consecutive year of rising poverty. Even more alarming, over 10 million people (25.5% of provincial populations) are experiencing food insecurity, an increase of 1.3 million from the previous year. These numbers represent a dramatic reversal from 2020, when Canada recorded a historic low poverty rate of 6.4% following the enactment of the Poverty Reduction Act, which pledged to cut poverty by 50% by 2030. The updated 2023 Market Basket Measure, which now includes telecom costs, could push the real poverty rate to 10.9%. Regional gaps are also stark, with Quebec at 7%, Alberta at 9%, and Nunavut topping the chart at a staggering 43%. In this video, we analyze the latest data, what went wrong, and what it means for Trudeau’s economic legacy and Canada’s social safety net.

🔍 KEYWORD
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