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November 2002     Vol. 3, no. 11

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Income and wealth

Baudelaire Augustin and Dimitri Sanga

  • Persons under 25 are the poorest in terms of both net worth ($1,800) and after-tax income ($12,600), likely because most of them are students or young unskilled workers.
  • Debt peaks in the 35 to 49 age group and then falls rapidly, helping net worth to increase rapidly. Between the ages 25 to 34 and 35 to 49, income rose from $33,000 to $42,100 (+28%) and net worth more than tripled, from $28,100 to $86,500 (+208%).
  • After those under 25, those 65 and over are the poorest in terms of after-tax income. Income in this group fell to $24,400 from $39,300 in the 50 to 64 age group. On the other hand, debts are almost non-existent.

Authors

Baudelaire Augustin is with Health Statistics Division. He can be reached at (613) 951-6083 or perspectives@statcan.gc.ca.

Dimitri Sanga is with Prices Division. He can be reached at (613) 951-3116 or perspectives@statcan.gc.ca.

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