According to the study conducted by Mamadou Diallo, researcher in residence at the observatory, having parents who are part of the better-off population contributes to being part of the same group.
The children of these parents are 6.5 times more likely to be one compared to the children of parents who are not. “Few studies document the composition of the top of the social ladder. However, focusing on the most well-off people is essential to understanding the dynamics that shape our society and the persistence of inequalities,” declared Mr. Diallo in a press release.
To carry out the study, data from Statistics Canada’s Longitudinal Administrative Data Bank were used. The methodology is “to isolate people with income in the upper decile (top 10%) of the income distribution (including capital gains) after taxes and transfers.” according to the Observatory.
Inequalities according to gender and age
Still according to the study, women are 67.4% less likely than men to be among the most well-off people in the province. However, the proportion of women in this group increased by 10% between 2000 and 2020. In terms of age, it is indicated that the age group with the greatest chance of becoming rich is that of 35- 55 years old. In Canada, this group is 2.46 times more likely to be so while in Quebec alone, it is an increase in chances of 167% compared to people under 35 years old.
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Finally, education is also an important fact, as having an education above secondary level increases the chances of being rich by 81% in Canada and by 95% if we only count Quebec.
Other factors also impact the chance of being among the better off, such as having immigrated to Canada, being single or even having a child under 18 years old.
Belgium
