Statistics Canada released its 2017 Canadian Income Survey this morning, revealing a significant reduction in Canada’s overall poverty rate. The data shows that the Government of Canada has met its first poverty reduction target a full three years ahead of schedule.
- Median after-tax income of Canadian families and unattached individuals rose 3.3% to $59,800 in 2017.
- The median market income of non-senior families rose 2.7% from 2016 to $92,400 in 2017.
- The median after-tax income of senior families (where the highest income earner was 65 years of age and older) totalled $61,200 in 2017, up $2,500 from 2016.
- There were 238,000 (3.9%) seniors living in poverty in 2017, down from 284,000 (4.9%) in 2016. This decline was concentrated among unattached seniors, where the poverty rate fell from 11.0% in 2016 to 8.4% in 2017.
- In 2017, 622,000 children under 18 years of age, or 9.0%, lived below the poverty line, down from 11.0% (755,000 children) in 2016.
An important factor in our growth calculation for families had to do with increases in child benefits, specifically the significant assistance provided by the Canada Child Benefit. Our plan to help Canadians by directing funds to those who need it most is working and we will continue to work hard to ensure Canadians can get ahead.