The national median after-tax income reached $74,200 in 2023, a modest 1.2 per cent increase from the previous year after adjusting for inflation, while the national poverty rate remained essentially unchanged at 10.2 per cent, according to data released Thursday by Statistics Canada.
The latest Canadian Income Survey shows seniors experienced the strongest financial gains, with median after-tax income for senior families increasing 3.4 per cent to $79,700 and unattached seniors seeing a 4.3 per cent jump to $36,400.
The income improvements for older Canadians came from growth in both market income and government transfers. Senior families saw their median market income rise 5.0 per cent to $52,100, while government transfers increased 1.4 per cent to $36,200.
Regional disparities persist
Alberta maintained its position as the province with the highest median after-tax income at $88,500, followed by Ontario at $78,600. At the opposite end, Nova Scotia ($62,900) and New Brunswick ($62,700) recorded the lowest provincial figures.
Among territories, the Northwest Territories led with a median after-tax income of $102,100, significantly higher than the national median, followed by Nunavut ($90,800) and Yukon ($84,500).
Income growth varied significantly by region, with Nova Scotia showing the strongest provincial increase at 3.5 per cent, followed by Alberta (2.9 per cent) and Ontario (1.4 per cent). Meanwhile, Saskatchewan experienced a 2.8 per cent decline.
Poverty trends show demographic shifts
While Canada’s overall poverty rate held steady at 10.2 per cent—affecting approximately 4 million Canadians—significant changes emerged between different demographic groups.
The poverty rate for seniors decreased to 5.0 per cent in 2023 from 6.0 per cent in 2022. In contrast, working-age Canadians (18 to 64 years) saw their poverty rate increase to 11.6 per cent from 11.1 per cent.
“Similar patterns appeared when examining family types, with senior families experiencing a poverty rate decrease from 4.3 per cent to 3.6 per cent, while non-senior families faced an increase from 7.1 per cent to 7.7 per cent,” said Statistics Canada.
Quebec maintains lowest provincial poverty rate
Quebec continued to report the lowest provincial poverty rate at 7.4 per cent, despite a 0.8 percentage point increase from 2022. Nova Scotia and Saskatchewan tied for the highest provincial rate at 12.9 per cent each.
Territorial poverty rates remained more than double the provincial average at 22.8 per cent, with Nunavut facing an alarming 43.4 per cent poverty rate—the highest in Canada.
The survey noted these elevated northern poverty rates persist despite generally higher incomes in the territories, reflecting the substantially higher cost of living in Canada’s North.
