The generational income divide is getting worse again
Statistics Canada's 2024 income survey shows a growing generational income divide, with Canadians aged 65 and older earning more than double those aged 15 to 24. While median household income remained flat in real terms, older Canadians continue to benefit from pensions, investments, and extended workforce participation. Younger Canadians face stagnant wages, high unemployment, and rising living costs, reversing a brief pandemic-era narrowing of the gap.
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Open this photo in gallery:A worker welds at a steel manufacturing facility in Hamilton, Ont., in July, 2025.Chris Young/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountThere was a time when young people in this country outearned retirement-aged Canadians. That time was long ago, and after a brief respite during the pandemic, the generational gap is widening once again. On Wednesday Statistics Canada released its income survey of Canadians for 2024, revealing that the median aftertax income for Canadian households was $75,500 that year, more or less flat compared to 2023 after adjusting for inflation.But beneath the top-line numbers the survey includes a breakdown of individual incomes by age group, and the numbers show that Canadians in…
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