Data for the fourth quarter from the distributions of household economic accounts (DHEA) show that less wealthy households (the lowest two wealth quintiles) increased their average net worth at a faster pace than wealthier households, while wealth for younger major income earners (under 35 years) declined for the first time since the start of the pandemic.
While the DHEA provide important insight into economic well-being in Canada, the results in this release focus on the trends in wealth for an average household with certain socio-economic characteristics, such as by wealth quintile and age group. Not every household, even those with similar characteristics, necessarily experience the same economic or financial situations.
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