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Median-family income continues ascent: StatsCan
CTV.ca News Staff
Date: Monday May. 5, 2008 12:54 PM ET
Between 1980 and 2005, median-income Canadian families saw an 11.1 per cent increase in the amount of money they earned, according to new data from Statistics Canada.
The increase is calculated based on gross income and was attributed to strong growth in the economy and gains in employment, according to a report on StatsCan's Survey of Labour and Income Dynamics.
The data shows that the median income for families, when calculated after taxes, has also gone up in more recent years.
Median income in 2006, after taxes, was $58,300 -- an increase of 2.1 per cent from the previous year.
It was the third year in a row that the median has gone up, and was attributed to gains in market income and government transfers.
Other family types also saw gains in their median, after-tax income from 2005.
- Senior families (as defined as families in which the primary income earner is 65 or older): $42,400, up 2.9 per cent
- Working-aged families: $62,000, up 1.8 per cent
- Unattached individuals: $22,800, up 4.6 per cent
When the numbers were broken down by province, the median after-tax income for families in Alberta was far ahead of families in the rest of the country. It was the third consecutive year that rate has increased.
- Alberta families had a median income of $70,500 in 2006.
- Ontario families followed at $62,400, then British Columbia at $60,300.
The data shows that government transfers played a key role in some of the more significant changes.
Two-parent families with kids saw an increase of $2,800 in government transfers in 2005, to $3,300 in 2006, due largely to changes to the Universal Child Care Benefit.
And for single individuals, transfers went from $500 to $600.
"According to the Survey of Labour and Income Dynamics, an estimated $78.2 billion was transferred to families in 2006, up 5.9 per cent from 2005. An estimated $25.3 billion was distributed to people living alone, up 2.8 per cent," the report states.
But government transfers to senior families -- which make up the largest portion of family types -- remained unchanged at $22,600.
The percentage of Canadian families living below the low-income cutoff remained unchanged at seven per cent, or 633,000 families.
On average, those families were $7,000 below the low-income cutoff. One year earlier in 2005, the average was $8,000.
About 2.3 per cent of senior families were below the low-income cutoff. About 29 per cent of single Canadians lived below the low-income threshold.
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I fail to see just what a minister could learn by an on site visit that he couldn't get from people who are actual experts in the various fields of work involved. It is doubtful that he is any sort of nuclear engineer or expert in construction. Just another photo op...
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Lart from Above
said
It will be interesting to see how the trend changes in a couple of years, once we have data from Harper's recession.
Steve in Fredericton
said
ken g
said
Stats Prof
said
What does info about the median tell you? NOT MUCH. Most Canadians aren't statisticians -- & how many would know that very very very VERY FEW Canadians are right at the median?
The median is but ONE income level among millions. If you have an HOUR, I'll explain it REAL simple! ...
Steve G
said
The housing bubble is ready to pop.
fred marcos
said
In short low income indicates low productivity Stats do not matter.
carl
said
BGD
said
Jack
said
Tara
said
MM
said
Feeling The Pinch
said
M
said
I never was able to totally grasp the actual calculation for the cost of living to start with. All I know is that I have been working for nearly 26 years and haven't seen an increase for at least the last 10 years! Yet I see an increase in gas, groceries, clothing and sports for my boys!
Joe
said
too many stats
said
The middle class is stagnating.
This week we are richer.
What happened?
pp
said
BUT what about the cost of living over that time period - how much did it rise? I bet it was more than 11.1%!!!
Can anyone tell me those stats? how much did the cost of living for these supposed median-income familey go up between 1980 - 2005??
RR
said
Advice from an old sage
said
Are we expected to feel better because when the numbers are aligned in a certain manner they suggest we have more income and therefore should feel good?
I've never had less earned income in my life yet my net assets are increasing through wise investments in resource stocks.
It's not what you have which is important but what you do with it. When you apply taxes, and debt interest to most incomes,the result is people are throwing money out the window through mismanagement. Pay less taxes (through sound investment planning) and forsake the wannabe stuff, forgo the Bimmer, buy a Honda and stay out of debt.
Roger T
said
SAVINGS COMES BEFORE THE ECONOMY!