Canadian politicians have been trying to make the middle class out to be a poor huddled mass of declining fortunes, but a landmark study from Statistics Canada paints very much the opposite picture.
The study, released Tuesday, shows the median net worth of Canadian families jumped 44.5% to $243,800 in 2012, up from $168,700 in 2005. Over the past 15 years, the median net worth figure leaps 80%. The numbers are adjusted for inflation and measure the amount of money left over if all debts were paid and all assets were sold.
“This shows the middle class isn’t withering away,”
The ‘paycheque to paycheque’ myth: How Canada’s middle class is getting richer, a lot richer | Financial Post