|
November 17, 1995
Family Incomes Inch Up in 1994
Today, Statistics Canada released its annual report on family incomes. The report shows that in 1994 average family income was $54,153 an increase of about 2% over the previous year, or an average of $996 per family. Strong employment growth in 1994 contributed to this improvement in incomes and to a small decline in poverty rates.
"This is certainly good news, the best news we've had since 1989," said Clarence Lochhead, Assistant Director at the Canadian Council on Social Development (CCSD). "But keep in mind that family incomes are still $2,600 below what they were in 1989, the last year before the recession began. Continued job growth will be necessary for us to have a real, sustained recovery," he added.
The Statistics Canada report indicated that full-time employment grew by an impressive 466,000 jobs in 1994. This was partially offset by a drop of about 84,000 part-time jobs, leaving the economy with a net increase of 382,000 jobs. Since January 1995, however, the labour market has weakened considerably. Growth in both full-time and part-time employment has been slow and wage gains have been almost non-existent, suggesting that this may simply be a short-lived recovery in family income.
"It's a little too early to uncork the champagne," Christopher Clark, policy analyst with the CCSD commented. "There are still over a million unemployed Canadians who want to contribute to and benefit from a growing economy. Only through a renewed emphasis on job creation will all Canadians benefit from economic recovery."
-30-
Canadian Council on Social Development,
190 O'Connor Street, Suite 100,
Ottawa, Ontario, K2P 2R3
Tel: (613) 236-8977, Fax: (613) 236-2750, Web: www.ccsd.ca, Email: council@ccsd.ca
|
