Food going up so FAST!, Middle class in trouble, Wages Not keeping up with inflation, Oil Dropping

Originally Aired on , Jan 26, 2015
Must be really hard to live in a low income bracket here in Vancouver canada. The cost of food is skyrocketing !!! Wages remain the same ? Food Banks will go Haywire by 2020 !
Even though Canada’s economy appeared to have a strong performance in 2017, a closer at the data is showing that inequality increased and wages stagnated for working families.

While the Canadian economy boomed with roughly 3% GDP growth in 2017, new data from Statistics Canada shows most of the gains went straight to the top 10% while incomes for average families barely budged.

it's really tough you know it's it's really really really tough here in um in Vancouver for like I said a lower income bracket people and I wish there was some sort of more of um like I mean increasing minimum wage won't solve the problem because then everything just goes up in price so increasing minimum wage and everything stays the same price I think that will work I think that should work but unfortunately the last two minimum wage increases we had here everything went up in price twice except gas though but yeah and that goes back to me talking about the production of food cost cheaper to make because of the the price of oil dropped and the transportation of food went down 60% but the the price of food still goes up so commodities go up when oil goes down so remember that folks when oil goes up food goes up food goes down and that's how it works and gold is sitting pretty tight right now silver sitting tight still right now investing in those precious metals are probably our safest commodity from an inflated dollar and yeah I just thought I'd throw that out there there's Antonio here's Florida we're just hanging out here at the park having a good time and I just would like to thank everyone for watching and subscribing to my channel we'll talk more about food pricing later and as that we progress through the this new year 2015 anyways thanks for watching take care god bless bye

Here are a few of noteworthy findings from the data:

2017 figures show:
Average incomes rose just 2.8% in two years.
Incomes of the top decile rose nearly 5%.
The top 10% took in a quarter of all growth, while the bottom 40% took in only one-fifth of all growth.
Pre-tax inequality figures the highest since 2010, after tax inequality figures up as well.
Since the 1980s, majority of population’s incomes stagnated or fell, while top 1% and 0.1% of earners had their incomes grow at a staggering rate.
Income Growth Sluggish
Adjusted for inflation, the average the after tax income of all families and individuals rose modestly from $71,200 in 2015 to $73,200 in 2017. That’s an increase of 2.8%.

But families in the top decile saw their after-tax incomes rise almost double that. The top decile’s incomes rose 4.786%, from $192,200 in 2016 to $201,400.

Wage Growth Below Inflation
Craig Alexander, senior economist with Delloitte Canada, told PressProgress a key reason for Canada’s sluggish average income growth is sluggish wage growth. “A tight labour market should allow wages to rise but we aren’t seeing much wage growth.”

#mikemartins