Canadians are making more money than ever, according to a new report by Statistics Canada.
At the same time, a higher percentage of them are poor.
The median after-tax income for Canadian families in 2013, including single people, was $53,500 – 16.8 per cent higher than in 2000 once you adjust for inflation.
Some people are benefitting more than others, however: Incomes grew more in Alberta than anywhere else, by an average of 2.8 per cent annually between 2000 and 2013. Saskatchewan and Newfoundland and Labrador also saw high growth.
Ontario saw hardly any by comparison: incomes there only grew by an average of 0.4 per cent annually.
At the same time, the percentage of Canadians considered “low-income” grew to 13.5 per cent in 2013, up from 12.8 per cent in 2000.
The poorest slice is making more money: In 2013, the average after-tax income made by people in the lowest ten per cent was $9,200, compared to $7,400 in 2000.
And their income is growing more quickly than richer Canadians’, at least recently: The average after-tax income of Canada’s richest 10 per cent grew 19.8 per cent between 2000 and 2013. The poorest 10 per cent saw their income grow by 24.3 per cent since 2000 – but it has declined slightly from the early 1990s.
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