Eight headline indicators are grouped into four components of the domain framework. The framework components include: (1) Average and median income and wealth; (2) Income and wealth distribution; (3) Income volatility; and, (4) Economic security.
Indicators in this component report on the personal wealth and income of Canadians. Canadians living on a lower income face issues such a social exclusion, marginalization, and other barriers that have the potential to negatively impact wellbeing.
These indicators look at how wealth and income are distributed among Canadians, with a focus on inequality and poverty. Income disparities often have obvious negative impacts on the wellbeing of lower income Canadians, however, related issues such as crime and general discontent extend the impact of income inequality to people at all income levels.
Income volatility refers to the way in which personal and/or average incomes rise and fall over time. Indicators in this component focus on issues related to income risk and income security. Income volatility contributes to income inequality and financial insecurity, both of which have a negative impact on the wellbeing of Canadians and their families.
Economic security refers to feelings of opportunities for a secure and stable job, access to the necessities of life like food and shelter, and having an effective social safety net to draw upon during financially challenging times. Issues related to low economic security that can contribute to poorer wellbeing include low wages, a lack of job opportunities or job security, and unemployment.