2020 Census: Canadians' incomes up almost everywhere

0
808

2020 Census: Canadians' incomes up almost everywhere

Two-thirds of adults received financial assistance during the pandemic in 2020, according to Statistics Canada.

Canadian household incomes rose everywhere but Alberta and Newfoundland and Labrador in 2020, as millions of people benefited from pandemic-related support measures, according to new census data from Statistics Canada. .

The median after-tax household income is $73,000 in Canada for the year 2020, up 9.8% from last year. census, five years earlier, a growth that can be explained in part by the elimination of lower-paying jobs.

In comparison, in Quebec, the median household income after taxes is $63,200 for 2020, up 12.1% from 2015. In Ontario, this growth is 12.8% over five , for a median income of $79,500.

British Columbia had the strongest growth in median after-tax household income, up 14 .3% over five years to $76,000.

As for Alberta ($83,000, down 4.6%) and Newfoundland and Labrador ($63,200, down 1.3%), lower after-tax incomes were #x27;largely explained by the fall in oil prices, in addition to the slowdowns attributable to the COVID-19 pandemic.

Although fewer Canadians received employment income during the pandemic, census data suggests job losses were partially offset by COVID-19 benefits, as about two third of Canadian adults (68.4%) have received payments from support programs.

Beyond the support programs implemented during the pandemic, Statistics Canada estimates that the #x27;the more generous Canada Child Benefit benefits also offset job losses.

The number of Canadians earning less than $20,000 increased increased by more than 415,000, as many lower-paying jobs disappeared. But the low-income rate has declined, overall, and the number of Canadians reporting no income has fallen by almost a million from 2019.

< p class="e-p">Experts had warned that income data, which relies on tax and benefit records from the Canada Revenue Agency, would paint a complicated picture of the start of the pandemic and should be viewed as a snapshot of the moment.

With information from La Presse canadienne

LEAVE A REPLY

Please enter your comment!
Please enter your name here