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Income inequality in Canada rising: OECD report

A global economic think-thank says the gap between rich and poor in Canada has been getting wider, particularly since the mid-1990s.

The Organization for Economic Co-operation and Development said income equality in Canada is above the average for its member nations, but remains below the income gap in the United States.

In Canada, the average income of the top 10 per cent of Canadians in 2008 was $103,500, 10 times that of the bottom 10 per cent at $10,260. The ratio for Canada in the early 1990s was about eight to one.

The OECD says the gap between rich and poor in its member countries has reached the highest level in over 30 years.

In its latest report, the organization says the average income of the richest 10 per cent is now about nine times that of the poorest 10 per cent.

Income inequality is at the heart of the Occupy Wall Street protests across the U.S. and Canada.

The report says the main driver behind rising income gaps has been that high-skilled workers have benefited more from technological progress than the low-skilled.