Seniors drive up P.E.I. household incomes

P.E.I. household incomes are the highest in the Maritimes, and incomes from seniors are a significant factor in that, according to a new report from Statistics Canada.

The report is for median family incomes in 2015. It shows that over the previous decade elderly families on the Island had the fastest income growth in the country, up 26.4 per cent.

At $58,900, it was still below the national average of $62,100.

Median income for all families on the Island was $78,900, which just passed the Nova Scotia median income of $78,800. Nationally median incomes were $88,300.

P.E.I. has the lowest wages in the country.

• P.E.I. wages slipping against Canadian average

Median income, however, takes into account other sources, such as self-employment, pensions, investments, and money from the government such as employment insurance.

Islanders performed relatively well in terms of what Statistics Canada calls market income, which includes self-employment, investments and private pensions.

The median market income of $67,100 in 2015 was higher than in Nova Scotia, New Brunswick, and Quebec, but still below the national average of $76,900.

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