NEWS
 
Middle class Canadians better off than American counterparts
Still no reason to celebrate, says CIBC
16 0

A report in the New York Times suggests the Canadian middle class is better off than its American counterpart.

The newspaper says an analysis it did with a data centre shows Canadian median income was far behind the United States 14 years ago.

However, the report says Canada caught up to the United States in 2010, and is now likely ahead of the U.S.     The report says middle class incomes in the U-S are stagnating, while they're growing in Canada.

Benjamin Tal, CIBC's deputy chief economist, provides some perspective though.

Tal says it's not so much that Canada's middle class is doing great.

He says it's more a case of the U-S is doing ``very badly'' when it comes to the widening income gap.

And, says Tal, that's no reason for Canada to celebrate.

Categories:

DON'T MISS

TED RADIO HOUR

Welcome to TED Radio Hour hosted by Guy Raz, Saturdays at 6pm and Sundays at 7pm

 
16 0

A report in the New York Times suggests the Canadian middle class is better off than its American counterpart.

The newspaper says an analysis it did with a data centre shows Canadian median income was far behind the United States 14 years ago.

However, the report says Canada caught up to the United States in 2010, and is now likely ahead of the U.S.     The report says middle class incomes in the U-S are stagnating, while they're growing in Canada.

Benjamin Tal, CIBC's deputy chief economist, provides some perspective though.

Tal says it's not so much that Canada's middle class is doing great.

He says it's more a case of the U-S is doing ``very badly'' when it comes to the widening income gap.

And, says Tal, that's no reason for Canada to celebrate.

Top stories

Swedish police say four people have been wounded in a shooting in Malmo, the country's third-largest city.