Household disposable income grew at a slower pace for lower income households than those with higher incomes in 2021. As a result, the gap between the top two and bottom two income quintiles' share of total disposable income increased in 2021 relative to the prior year, although it remained well below pre-pandemic levels.
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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