The top 20 per cent of Canadian income earners hold 49 per cent of all household wealth, down from 50.3 per cent in 2010, says Statistics Canada.
The report says wealth for households in the highest income quintile is 2.5 times higher than the overall average. The top 20 per cent of income earners had a net worth of $1.8 million per household in 2017, compared with about $214,000 for the bottom 20 per cent.
The federal agency said the top 20 per cent income-earning households earned 41.4 per cent of all household disposable income in 2017, while the bottom 20 per cent earned 6.7 per cent of total household disposable income.
“As was the case for wealth, relatively more of Canada’s household disposable income was concentrated in British Columbia in 2017 than in 2010, while incomes in Alberta have declined in recent years, from $104,643 per household in 2015 to $94,788 in 2017, in tandem with economic conditions in the oil and gas sector,” said StatsCan.
Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.
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