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Monday, December 9, 2013

Wealthiest 1% earn 10 times more than average Canadian


 Canada's rich earn on average $381,300 a year and are mostly male, white and married


Statistics Canada has published the final batch of data from its new and controversial National Household Survey — the survey meant to stand in for the long-form census scrapped by the Conservatives in 2010. The release was delayed for a month because of a glitch in the agency's formulas.
It shows that the median family income in Canada is $76,000 — generally higher in the west than the east — while the median individual income is just $27,600. That means just as many individuals earn less than $27,600 as earn more.
The richest 10 per cent of individuals are making more than $80,400. And the very rich — the 272,600 individuals who make up the top one per cent — are all making more than $191,100.
Those people are making an average of $381,300 each, 10 times the average Canadian income of $38,700. The large discrepancy between the median and the average suggests there is a very small percentage of the super-rich.