Income gap is at ‘record high’ amid weakening economy, StatCan says
Global News
Canada's income divide remains at record high levels, according to Statistics Canada, which adds that the top 20 per cent hold the majority of household net worth in Canada.
The income gap in Canada remains at a “record high,” according to newly released data, which highlights the growing divide between the wealthiest groups and those struggling with affordability — especially the youngest households.
In addition, the wealthiest households continue to hold the vast majority of all wealth in Canada, and that trend continues to grow.
This comes as multiple reports show that unemployment is on the rise in Canada, and as households continue to struggle with the cost of living and housing affordability.
The trade war with the United States and President Donald Trump’s tariff policies have also increased the economic challenges facing Canadian businesses and households alike, with higher costs for goods and services one of the main effects.
According to Statistics Canada, during the second quarter of 2025, from April through June, the income gap remained at an all-time high of 48.4 per cent — the same as in 2024 as the economy continues to face challenges.
“The income gap remained at a record high in the second quarter of 2025, unchanged from the previous year, amid a weakening economy that negatively affected household income and net saving across the income distribution,” Statistics Canada said in the report.
“The wealth gap grew as strong financial market gains benefited the wealthiest, while a decline in real estate values weighed on the average wealth of younger age groups and the least wealthy.”
The agency says the income gap is a measure of the distribution of disposable income across the country, specifically the difference between households with the top 40 per cent of disposable income compared with the bottom 40 per cent.
The agency says more than 22,000 people have been removed from the country in the last 12 months, and nearly 30,000 removals were "in progress" as of Oct. 31.
A problem with the signalling system caused a service interruption this morning on Montreal's light-rail network.
An Ontario lawyer accused by American authorities of advising a Canadian Olympian-turned-alleged-cocaine kingpin has had his licence to practice law suspended.
The FIFA draw ceremony will mark the first time Prime Minister Mark Carney, U.S. President Donald Trump and Mexican President Claudia Sheinbaum will be in the same room.
A new report finds anglophones face higher unemployment and lower wages in Quebec; gaps that researchers say carry major economic consequences.
Critics are questioning the solidity of Saab's pitch to deliver 10,000 jobs in Canada if it decides to set up shop here to assemble Gripen fighter jets.
The girl’s disappearance underscores long-standing concerns about the ease with which a parent can take a child to another country without the other parent’s knowledge or consent.
Asbestos cleanup, tight work windows and other TTC delays have slowed the build out of 5G cellular service in Toronto's subway system.
Alberta's UCP government is changing the rules to make it easier for citizens to force a referendum on issues such as the prospect of the province leaving Confederation.
An at-home DNA test given as a birthday gift solved an 80-year family mystery by revealing that a man in Quebec and a man in the Netherlands were long-lost brothers.
Lina Vargas was on the board for almost two years and told Global News that accountability and transparency are fundamental rights for all community members.
Industry Minister Melanie Joly told the House of Commons committee on international trade the move breaches federal contracts tied to manufacturing in Brampton and Windsor, Ont.
A targeted home invasion and kidnapping led to a gunpoint standoff with police and an overnight chase across Toronto. Two suspects remain at large, investigators say.