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Introduction to Income, Prosperity & Poverty
Economic development in a region needs to be enjoyed by all of its citizens. Regional development involves creating a place for individuals, companies and families to prosper. The gap between the rich and poor is widening and broadening in many communities, including Niagara. -
The Number of Personal and Business Bankruptcies
The number of personal consumer and business bankruptcies in a region are a measure of whether individual or business finances are healthy and able to withstand difficult times. Personal bankruptcies were up 10% in Niagara from 2006 to 2007. -
Social Assistance
Children and their families make up 52% of the people receiving social assistance in Canada. -
Food Bank Use in Niagara and The Hunger Count Survey
The annual Hunger Count Survey provides a national snapshot of food bank use in Canada. The total number of individuals who receive groceries from food banks and other agencies are recorded during the month of March. -
Market Basket Measure
The Market Basket Measure (MBM) includes the cost of food, shelter, clothing, transportation and other costs of living related to a household and recreation and what proportion of the market basket that an individual living on Ontario Works is able to afford. -
The Gap Between the Rich and the Poor and for Different Groups
The gap between the rich and the poor is widening in Niagara, as in all parts of Canada. According to the National Council of Welfare (2006), in 2004 for every $1 earned by the poorest 10% of families with children, the richest 10% of families with children earned $14.48. -
The Low Income Cut-Offs (LICO) Poverty Measure
The Low Income Cut-Off (LICO) is a measure based on total income before or after tax and is expressed as the percentage of families or persons 15 years and over who live below the LICO level and live in poverty. -
Income and Earnings
Niagara had the lowest median, after tax employment income in all of Ontario at $23,396 in 2005. In 2005, in Niagara, the median earnings of those employed full-time for a year was $41,807. -
Overall Economic Development
The CIBCWM Metropolitan Economic Activity Index (2007) is a measure designed to rank economic development in Canada’s largest CMAs. Nine macroeconomic variables and drivers of economic growth comprise the index: population growth, employment growth, unemployment rate, full-time share in total employment, personal bankruptcy rate, business bankruptcy rate, housing starts, MLS...
