Toronto – October 16, 2024 – In 1992, the United Nations General Assembly adopted October 17 as the International Day for the Eradication of Poverty. Despite the continued growth in global economic development, millions of people around the world continue to live in extreme poverty.
Today, there are 1.3 billion people living in persistent poverty and the worldwide skyrocketing cost of living is only making it worse. The link between poor access to social determinants of health and poverty continue to rise. By the end of 2022, 8.4 per cent of the world’s population, or as many as 670 million people, are expected to be living in extreme poverty.
The United Nations theme for International Day for the Eradication of Poverty in 2024 is “Ending Social and Institutional Maltreatment Acting together for just, peaceful and inclusive societies.” Poverty has multiple dimensions, some visible and others hidden, but all interlinked. This year’s theme will highlight one of the Hidden Dimension of Poverty the social and institutional maltreatment experienced by people living in poverty, and consider ways to act together to promote just, peaceful and inclusive societies.
According to the United Nations, in response to the current cost-of-living crisis, 105 countries and territories announced almost 350 social protection measures between February 2022 and February 2023.
The cost-of-living crisis, or the affordability crisis, isn’t just an economic issue – it’s a social justice issue. It affects our communities’ health, education, and overall well-being. Women and marginalized communities are also disproportionately impacted, facing greater challenges in securing stable housing and fair wages.
When families are forced to spend more than half of their income on essentials like housing and basic necessities, it leaves little room for savings, education, or retirement planning. When workers are paid low wages, they struggle to make ends meet, perpetuating a cycle of financial instability.
