The Canadian Census Says We’re Getting Richer

The Background

The results are in: Canadians are getting richer. The federal government released more information from the 2016 census yesterday, and it turns out that citizens in some provinces territories are actually raking in quite a bit of dough. (We’re looking at you, NWT.) According to the results, the median income for Canadians grew by almost 13% from 2015 to 2015, while the median household income grew by just under 11%. Canadians in the Northwest Territories are really bringing home the bacon, taking home an average household income of $117,688, with Nunavut coming in a close second with $97,441. Things aren’t looking so rosy in New Brunswick and Quebec, the two provinces with the lowest household income at $59,347 and $59,822, respectively. CBC

What Else You Need to Know

We also seem to be getting smarter. More than 65% of Canadians are saving some portion of their income, contributing to either a registered pension plan, a registered retirement savings plan or a tax-free savings account. Since we’re a land of overachievers, 30% of us are contributing to more than one, with 9% of us contributing to all three. (Show-offs.)

Battle of the Sexes

Ottawa also released info about women in the workforce and things are looking up. More women than ever are heading into an office, while more men than ever are taking time off to stay home with their kids. While there’s still a pretty big pay gap between the two genders, nearly one-third of couples are contributing fairly equal amounts to the family finances. (It’s about time.)

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