Family income in Canada flatlined in 2008
NationalPost.com – News – The average after-tax income for Canadian families remained ‘virtually unchanged’ in 2008
Thursday, Jun. 17, 2010. Canwest News Service
OTTAWA — Following four years of growth, the average after-tax income for Canadian families remained “virtually unchanged” in 2008 from the previous year — just as a global recession was starting.
Statistics Canada reported Thursday that the median, post-tax income — after adjusting for inflation — in 2008 was $63,900.
Post-tax income for single individuals also remained constant in that year, at $24,900, marking the first time in three years where there was no significant change.
Meanwhile, at the provincial level, family incomes rose in Saskatchewan and British Columbia — both noting a rise of 5.7%. But Alberta families were the strongest breadwinners, bringing in $77,200 annually in 2008.
For singles, the greatest increases were in Alberta and Manitoba, recording income increases of 13% and 12%, respectively. That statistic remained virtually unchanged elsewhere.
The federal agency also noted there were three million low-income Canadians in 2008 — no more or less than in 2007 — representing 9.4% of the population.
Canwest News Service
< http://www.financialpost.com/news/Family+income+Canada+flatlined+2008/3165609/story.html >