Number of households earning $100K or more

Over the five years to 2025, the number of families earning more than $100,000 per year is projected to increase an annualized 5.0%. After slowing down significantly in 2009, the number of families in this income bracket increased strongly for most of the past decade. Driver growth slowed in 2015 and 2016, as the collapse of commodity prices weighed on the economy, as Western Canada is particularly reliant on support from commodities. With 2017 being a banner year for the economy in general, the number of households earning at least $100,000 grew 5.9%, the fastest rate since 2012 at the time. Growth is estimates to have remained strong in 2018 and 2019, albeit at marginally slower rates, as a strong labor market placed upward pressure on wages. Although the onset of the coronavirus in 2020 disrupted the economy, the government assistance programs in Canada proved beneficial to the population. Specifically, the number of households earning more than $100,000 per year increased 8.2% in 2020 alone. This trend is expected to continue as the un-employment rate decreases and the government continues programs aimed at reducing the poverty rate.