The Canadian Centre for Policy Alternatives, in a recent study on income inequality, arrived a startling conclusion. It stated that by 7:47 a.m. on the first working day of the year, Canada’s top 100 CEOs have already pocketed $49,510 — a sum it takes most Canadians a year to earn.

It should not have taken me by surprise, after a lifetime of living and working in the area of poverty as a social worker. Income inequality is an important indicator of equity in a country. It has implications for social outcomes such as crime, life dissatisfaction and poverty.

A study by the Conference Board of Canada says Canada’s 12th-place ranking in income inequality among peers suggests Canada is doing a mediocre job of ensuring income equality.