The average Canadian family now earns more than their southern neighbours.
Canadians are proud of their nation. Many things — from maple syrup to free medical care — distinguish them from their American neighbours. And now there is another significant difference. A new study shows that most Canadians earn more than Americans.
A report published by the Centre for the Study of Living Standards says that as of 2016, most Canadians earned more than Americans if we talk about the income of an average family.
The Canadian middle class is considered more affluent than the American one. In 2016, the average household income in Canada was $59,438, while the average income in the United States was estimated at $58,849.
If all Canadians’ incomes from the lower to the middle class were converted into U. S. dollars, it would be clear that Canadians earned an average of $3,000 a year more than their southern neighbours.
However, Canadians are lagging behind Americans in income when it comes to the upper class. According to Bloomberg, the average upper-class family in Canada earns $212,500 a year, while the average American family makes $284,100 — it is a huge difference of $70,000.
Even though average households in Canada earn more than in America, the U. S. is still considered a richer country as a whole.