Living Standards examines Nova Scotians’ average and median incomes and wealth, distribution of income and wealth, including poverty rates, income fluctuations and volatility. It considers economic security, including labour market security, and housing and food security.
Our living standards should reflect our capacity to transform economic growth into stable current and future income streams for everyone. Economic growth does not automatically translate into better living standards. A higher average income, for example, could be achieved at the cost of increased social inequality or greater economic insecurity. In contrast, increasing job quality, reducing poverty, and providing affordable housing and food security to individuals and families will raise wellbeing for everyone.