Why you’re not seeing the growth in median income in Metro Vancouver
There’s a lot of talk about the housing market in Metro and the job market in Vancouver.
But it seems like most of us have no idea how it works.
The median income per capita in Metro is $57,742, according to Statistics Canada.
That’s down by about 6 per cent from a year ago.
That translates to a monthly income of $2,854, according the latest data from the B.C. Ministry of Finance.
But that’s not the entire story.
It’s important to note that the median household income in the Greater Vancouver area is higher, $82,000.
That includes $13,000 in rent, $14,000 a month for utilities, and $18,000 for child care.
There are also a lot more families making more than the median income.
The most common family making more is $91,000, followed by the average family making $71,000 and the lowest-earning $46,000: The median family makes $90,000 or less, while the highest earners make $120,000 to $200,000 A lot of people are making less than the BCP is reporting because they’re working longer hours or aren’t earning enough to support their families.
A couple of weeks ago, I asked the province’s chief statistician, John Scott, if we had a real picture of the situation in the region.
His answer: “The number is actually quite low.”
I think that’s fair, but it’s not what people are hearing.
The provincial government is still trying to figure out how much it will spend to get us back on track, says Scott.
“What we’re saying is we want to do a little bit of this and a little little bit more of that.
We want to see how we can be more effective with that.
For example, while we’re talking about a large increase in housing demand in Metro, many people are seeing a big drop in their incomes because of a drop in home prices. “
We have an aging population that is going to have to make do with lower rates of economic growth.”
For example, while we’re talking about a large increase in housing demand in Metro, many people are seeing a big drop in their incomes because of a drop in home prices.
That is not the case in the province of B.I., where median income was up 8.8 per cent over the last year, the highest rate of increase in the country.
B.A. is also not seeing a lot in the way of an increase in median incomes.
But the gap between B.U. and B.P. is narrowing, thanks in part to a big expansion of public transit and a rise in the number of people living in subsidized housing.
The gap between the two is the largest in B.E.C., with B.L.I. and Manitoba both seeing their median incomes rise by between 5.3 per cent and 8 per cent.
The B.V. government’s projections say there will be no change in the national average income over the next 20 years.
The data says the BCT has a median income of about $56,700.
But a large percentage of people in Metro are living below that threshold, and are still paying a lot to subsidize their homes.
“I don’t think the numbers are really representative of Metro, and the data isn’t representative of BV,” says Scott of Statistics Canada’s data.
He also says it’s important for people to understand that the BAC does not represent the entire region.
“The BAC has a population of about 35,000 people.
The census has a total population of nearly 50,000.”
It’s a very large number, but there are many more people living below the poverty line.
And that means people who have little to no income, like students, seniors and people living on disability income are being pushed into the red.
“It is a big challenge for us to get our economy growing again and be competitive with the rest of the country,” says B.B.C.’s finance minister.
“As we look ahead, the reality is we’re still in the midst of a recession.
We’re still experiencing very high unemployment, which is a major factor.”
The BCT’s data is also important because it is used by the provincial government to make its case to people in the private sector.
The ministry relies on it to provide financial support for jobs and investments in the economy.
So far, that data hasn’t really helped the BCLN, which has been working on its own research into what is causing the high level of inequality in the Bancroft family trust.
But there are some things that are clear.
The number of families making $90 or less has been steadily declining over the past few years, while households earning more than $100,000 have been growing at an average rate of more than 2 per cent a year.
The trend is going in the wrong direction, says the group’s president, Paul Wigmore. “There