Household disposable income increased more for lower income households than higher income households in the third quarter. As a result, the gap between the top two and bottom two income quintiles' share of total disposable income declined to its lowest level ever recorded since the beginning of this data series in 1999.
While the distributions of household economic accounts provide important insight into the trends in household economic well-being and income inequality in Canada, the results in this release focus on the changes in income, consumption and saving for groups or an average household with specific socioeconomic characteristics. It is important to recognize that not all households, even those with similar characteristics, necessarily experience the same economic or financial situations.
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