Non-senior families, couples with children saw slight gain
The median after-tax income of Canadian families and unattached individuals stood at $61,400 for the year 2018, slightly higher compared to the $60,900 recorded in the previous 12 months, according to Statistics Canada (StatCan).
Overall, economic families saw an $83,900 after-tax income in 2018, up from $83,000 in 2017. But there was minimal increase in the income for families whose highest income earner was 65 years of age or older (up to $63,500 in 2018 from $62,300 in 2017).
Non-senior families, meanwhile, saw their after-tax income climb to $91,600 in 2018 from $89,300 in 2017, with two-parent families with children receiving a $101,900 income two years ago compared to the $99,200 they got the year prior. Lone parents also saw a $900 improvement: up to $52,000 in 2018 from $51,100 in 2017.
Senior workers received $28,500 in 2018 after getting $28,00 the previous year, but unattached individuals got a $100 reduction (down to $30,700 in 2018 from $30,800 in 2017) and non-seniors lost $200 (down to $32,100 in 2018 from $32,300 in 2017) in their after-tax earnings.
The data also reflected inequality in earning powers. The richest households in Canada accounted for 23 per cent of the total income in the country in 2018, while the four lowest groups – which make up 40 per cent of the population – accounted for 20.8 per cent, according to StatCan.
Canadians also reported a median annual income of $38,350 in 2018, up by 1.4 per cent from $37,830 the previous year, according to StatCan. Hoyes, Michalos & Associates, meanwhile, found that average household income rose by 5.5 per cent to $3,162 per month after taxes in 2019 while household expenses grew by 6.4 per cent.