A number of factors, including occupation, industry, amount of experience, and geography, affect the average pay in Canada.
The average weekly pay for all Canadian workers, according to Statistics Canada, was around $1,130.77 in 2020. This translates to a compensation of almost $58,800 per year on average.
It’s crucial to remember that these numbers represent an average and may range greatly between industries and geographical areas.
Average earnings may be greater in some high-demand professions or businesses and lower in others.
Income Statistics for Canada
- Canada is one of the 20 highest-earning nations, with an average yearly salary of $59,300 in 2022 (Labour Force Survey).
- In 2023, an increase of 4.2% in the average national pay is anticipated.
- The highest weekly wages ($2,242) are earned in the mining, quarrying, and oil and gas extraction sectors.
- The top 1% of Canadian earners of salaries had an average yearly income of $685,000 in 2021.
- Arts, entertainment, and recreation was the industry that reported the largest rises in 2021, with a year-over-year growth rate of 26.3%.
- According to Statistics Canada, Nunavut has the highest average annual wage of any province or territory in Canada ($87,355 in 2021).
Average Salary in Canada for Household Income for 2023
- In Canada, the yearly average pays in 2021 was $59,300.
- When that sum is divided by 12, the result is $4,942 for the average monthly wage.
- Canada, one of the top 20 nations for salaries, is renowned for its high standard of living with employment opportunities.
Industries with a Falling Average Yearly Income in Canada
- Since 2019, Canada’s yearly average income has increased.
- Most experts consider the decline in 2022 to be a blip, and the upward trend is expected to continue from 2023 onward.
- All sectors except two had an increase in salaries in 2021.
- The only industry in which average pay did not rise in 2021 was the management of businesses and enterprises, which also included the forestry and timber harvesting industries.
- Administration of Businesses and Enterprises: +0.0%
- Forestry and timber harvesting: -8.9%
Canada Average Paying Job Sectors
- The arts, entertainment, and recreation industries as well as retail are among Canada’s average-paying industries.
- Even if the arts, leisure, and recreation sector’s average annual income increased by a staggering 26.3% in 2021
- In 2021, the average annual wage in this industry was only $40,241, or $3353.40 per month. This doesn’t do anything to close the income and wealth divide in Canada.
- The typical yearly salary in this industry is a pitiful $34,503, or $2,875.25 per month.
- His barely keeps up with the estimated 5–8% inflation rate for 2022.
How much does the Average Canadian Family Spend on Tax
- The average Canadian household paid $39,299 in taxes in 2021, including both visible taxes (like income tax).
- To put things in perspective, the average Canadian family spent $19,685 on housing in 2021, which is less than half of what they paid in taxes.
- The average Canadian household spends more on taxes than on housing, food, and clothing put together, which reduces their disposable income.
How does the Average Salary in Canada vary across provinces?
Because of variables like regional economic conditions, cost of living, and industry concentration, average earnings in Canada can differ significantly between provinces.
In general, provinces with strong economies and higher expenses of living, like Ontario and Alberta, tend to have higher average earnings.
For more precise data on average salaries in particular provinces, it is advisable to examine regional statistics and local sources.
References: https://www.livingin-canada.com/work-salaries-wages-canada.html | https://www.dundaslife.com/blog/average-income-in-canada#toc-canada-s-general-income-statistics