The median after-tax income of Canadian families and unattached individuals was $70,500 in 2022, a decrease from $73,000 in 2021 (-3.4%), adjusted for inflation. Despite market income remaining relatively stable, median government transfers declined in 2022, as benefits related to the COVID-19 pandemic were discontinued and pandemic-related modifications to the Employment Insurance (EI) program were removed during the year. The annual inflation rate in 2022 was 6.8%, which also contributed to the decline in income from the previous year. Dollar amounts in this analysis are expressed in constant 2022 values. Canada's official poverty rate was 9.9% in 2022, increasing by 2.5 percentage points from 7.4% in 2021 and approaching the 2019 pre-pandemic rate of 10.3%.
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