OTTAWA: Canadian incomes are on the decline, just not for everyone. The latest survey release from Statistics Canada delivers numbers on after-tax income… for 2015. The relatively slow update gives us some new insights on what you already probably know, Canadians are experiencing increased income polarization. The number of Canadians earning over six-figures has steadily increased, but so has the number of people barely scraping by.
The median income dropped slightly, but it still dropped. According to the survey, 2015 gross incomes fell to $56,000, a 0.35% decrease from the same time last year. These numbers were adjusted to 2015 dollars, so this already takes CPI (not inflation) into account. A declining median income is a worrisome trend. It means the number of Canadians earning less than the median is growing faster than those above it. This likely indicates less upward mobility for lower income Canadians.