To recall what a Lorenz Curve shows - A Lorenz Curve displays the population percentile to the income percentile. In a perfectly equal society, the bottom 50% of the nation would earn 50% of the nation's income, the bottom 25%, earn 25% of income, etc. etc (this is the 45 degree dotted line).
The further the curve shifts down to the right, the more unequal society is - for example, to compare and contrast the 1950 levels to the 2021 levels.
In 2021, the bottom 90% of Canadians account for almost 60% of all income, while the next 9% (90 to 99% of all Canadians) account for almost 26% of all income, Finally, the top 1% of Canadians account for almost 15% of all income.
In 1950, the bottom 90% of Canadians accounted for just over 65% of all income, while the next 9% (90 to 99% of all Canadians) accounted for just over 25% of all income, while finally to top 1% of Canadians accounted for just under 10% of all income.
That is to say, over the last 70 years, the bottom 90% have seen their share of income eroded, the next 9% (90 to 99%) have seen their share stay almost constant, while the top 1% have seen their share of income rise by over 5%.
Coming up I hope to create the same for the wealth distribution in Canada - we will see what that looks like! (Spoiler - it's not that interesting)
No comments:
Post a Comment