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COVID-19 benefits helped close gap between households with lower, higher incomes: StatCan

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COVID-19 pandemic is closing the gap between lower- and higher-income households, a new report from Statistics Canada says.A recently released estimate of Canadian household accounts found that those in lower-income households reported having disposable income of 6.1 per cent in the first quarter of 2020, increasing to 7.2 per cent in the second quarter.In that same period, the report found disposable income among Canadians in higher-income households — which it said was driven more by volatility in financial markets and investment funds — diminished from 40.1 per cent to 37.7 per cent.

Canadian economy posts worst showing on record in 2020 Disposable income was highest among Canadians in the lowest-income households, increasing by 36.8.

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