N.W.T. median household incomes highest in Canada, but numbers vary widely by community
Median family incomes fluctuate extensively throughout the Northwest Territories based on the newest knowledge revealed by the NWT Bureau of Statistics, however total they exceed the nationwide common by a large margin.
The bureau not too long ago reported that in 2020, 14 communities within the Northwest Territories had median family incomes above the Canadian common of $84,000, and 7 had incomes lower than that. All mixed, median family incomes for the Northwest Territories stood at $127,000.
The statistics are based mostly on 2021 census knowledge.
On the high of the pile is Norman Wells with a median family revenue of $160,000. Yellowknife ($148,000) and Hay River ($129,000) took second and third spot. On the backside is Aklavik at simply over $50,000, adopted by the Ok’atl’odeeche First Nation and Fort Liard, each at below $70,000 in median family incomes.
The Dehcho area was reported to have the bottom family median revenue within the territory. The bureau withheld knowledge for communities the place populations had been too small to keep away from breaching confidentiality.
Median revenue is the revenue discovered in the midst of the complete vary of incomes. Households within the Northwest Territories, based on the bureau, are largely {couples} with kids (28 per cent), adopted intently by one-person households (26 per cent) and {couples} residing with out kids (roughly 19 per cent).
Median particular person incomes additionally highest in Canada
As for particular person incomes, the NWT Bureau of Statistics stories that the territory has the very best median private revenue in Canada at $56,800. That is a 15 per cent enhance in median private incomes since 2015. For the remainder of Canada, the federal bureau of statistics stories the median private revenue as $41,200 in 2020.
Within the Northwest Territories, based on federal statistics, 8,425 people — roughly 26 per cent of these over the age of 15 — earned $100,000 or extra in 2020, with 2,360 incomes $150,000 or extra. In comparison with the remainder of Canada, roughly 10 per cent of these aged 15 or older earned $100,000 or extra.
The 12 months 2020 additionally introduced with it the federal COVID-19 pandemic reduction program for staff who misplaced employment revenue due to the pandemic. Within the N.W.T., 28.4 per cent of residents aged 15 or older took advantages below this system. That quantity was just like the remainder of Canada, however within the Northwest Territories the median profit acquired in 2020 was $10,000, in comparison with $8,000 nationally.
Value of residing up in Yellowknife
Whereas median incomes in a lot of the Northwest Territories outstrip these present in the remainder of Canada, there’s one other statistic the place the biggest portion of the territorial inhabitants additionally beats the nationwide common — the price of residing.
In response to the Client Worth Index (CPI) revealed by the NWT Bureau of Statistics on Wednesday, the price of residing elevated in Yellowknife by 8.3 per cent since June final 12 months. That is the town’s largest annual enhance since 1991.
It is also greater than the common Canadian CPI enhance of 8.1 per cent. Elsewhere within the North, Whitehorse’s CPI elevated 7.7 per cent over final 12 months, and Iqaluit’s elevated 4.3 per cent.
The patron worth index tracks the price of a spread of things from gasoline to heating oil, to shelter to meals. Yellowknifers noticed an 11.6 per cent enhance in the price of meals from shops, and a 4.2 per cent enhance in the price of meals from eating places. The price of gasoline is up 45.2 per cent over this time final 12 months in Yellowknife.
