Canada’s cost of living is going up, despite the fact that wages aren’t, according to Yahoo Finance.
Statistics Canada has revealed that median after-tax income did not change for individuals, remaining at $61,400. That’s virtually unchanged from 2017 and 2018.
This figure shows that wages have not kept up with inflation. It also doesn’t keep up with corporate profit, which rose nine percent in the space of that same period.
This has resulted in more insolvencies as Canadians struggle to keep their heads above water. The only province that did not feel this effect was Doug Ford’s Ontario, which saw incomes raise by 3.3 percent.
Nova Scotia had the lowest personal income, only taking home $52,200, while Alberta took $72,700, which was the highest.