While the lowest income households saw their wages go up, the increase failed to outpace gains for the highest income households.
Income inequality in Canada increased in the second quarter of 2024, according to Statistics Canada , hitting the largest gap since the agency started tracking the data in 1999. Income inequality in Canada increased in the second quarter of 2024, according to Statistics Canada , hitting the largest gap since the agency started tracking the data in 1999.
This comes even as the lowest income households raised their share of overall income in the second quarter.
When it comes to mortgage debt, StatCan found that youngest households – those under the age of 35 – have continually reduced their mortgage debt balances since the end of 2022 “as rising interest rates and housing cost pressures have made home ownership less affordable.
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