Canadians’ Adjusted Median Income Has Fallen, Young Families Most Impacted: StatCan

Published on August 24, 2024

The median family income has seen a year-over-year decrease in all parts of Canada due to inflation, according to numbers from Statistics Canada. In 2022, after-tax income was $60,800, according to data released on Aug. 19. While that was a 2.5 percent increase from 2021, when including the annual inflation of 6.8 percent, after-tax income was 4 percent lower than the previous year. The decrease in median family income was seen in all provinces and territories, StatCan said. The largest decrease was in Nunavut at minus 8.4 percent, followed by the Northwest Territories at minus 7.2 percent. Nova Scotia saw the third lowest drop in family income at minus 5.6 percent....

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