It's good to be from Alberta! New info from Statistics Canada has revealed that on average, Albertans make more than just about every other Canadian. The Canada Income Survey for 2018, which shows the median after-tax income of Canadians, took into account both Canadian families and “unattached individuals” to come up with their numbers.
According to the Statistics Canada report, Alberta’s median after-tax income is $72,700 which is over $10,000 more than most other provinces.
The next highest is Ontario which came in at $66,200, followed by B.C. at $62,000, Saskatchewan at $61,900, and Manitoba at $60,400.
East of Ontario, all the provinces are in the 50s. The lowest province in the entire country for median after-tax income is Nova Scotia at $52,200.
According to the Survey, the median for the entire country sat at $61,400 in 2018, which is “virtually unchanged from 2017.” So, overall Canadians earned around the same in 2018 that they did in 2017.
A news release by Employment and Social Development Canada explains that the data from Statistics Canada shows the largest three-year poverty reduction in the history of the country.
“The survey found that over 1 million Canadians have been lifted out of poverty since 2015, and that the poverty rate in Canada continues its downward trend,” outlined the release.
"The Government of Canada is committed to growing the middle class and helping those working hard to join it. Today's announcement is further proof that our plan is working. However, we know there is much more to do," said The Honourable Ahmed Hussen, Minister of Families, Children and Social Development.
"That is why we will keep working hard to reduce poverty and make sure that every Canadian has a real and fair chance to succeed," he continued.
While the country is reducing poverty as a whole, Alberta is clearly the frontrunner in terms of income for its residents.
Though, Albertan cities are relatively affordable to rent property in. At least compared to Toronto and Vancouver which are the most expensive cities to rent in Canada.
With Alberta, Ontario, and B.C. counting in as the highest-earning provinces in Canada, maybe it’s time to re-assess your 10-year plan. Though, you’ll want to keep the cost of living in mind!