5 For example, see T. Macklem, “Promoting Growth, Mitigating Cycles and Inequality: The Role  of Price and Financial Stability” (speech to the Brazil–Canada Chamber of Commerce, São Paulo, Brazil, March 12, 2012). 6 A. Bowlus, É. Gouin-Bonenfant, H. Liu, L. Lochner and Y. Park, “Four Decades of Canadian  Earnings Dynamics Across Workers and Firms,” Bank of Canada Staff Working Paper (forthcoming 2020).
-7Chart 6: Income inequality in Canada is slightly below OECD average and lower than in the United States Gini coefficient on disposable income (after taxes and transfers), latest year available 0.50 0.45  → Higher inequality  0.40 0.35 0.30 0.25 0.20 0.15 0.10 0.05  Slovak Republic Slovenia Czech Republic Iceland Denmark Norway Belguim Finland Austria Poland Sweden Netherlands Germany Hungary France Ireland Switzerland Estonia Canada OECD Greece Portugal Australia Luxembourg Spain Italy Japan Isreal Korea Latvia United Kingdom Lithuania United States Turkey Mexico Chile  0.00  Sources: Organisation for Economic Co-operation and Development (OECD) and Bank of Canada calculations  Chart 7: Income share of top earners peaked in 2006 before trending down Annual data  % 10  9  8  7  6  5  1983  1986  1989  1992  1995  1998  2001  2004  2007  2010  2013  4 2016  Top 1% Sources: Statistics Canada and Bank of Canada calculations  Last observation: 2016  Before the pandemic, years of strong labour-market growth brought Canada’s unemployment rate to the lowest in four decades.