May 23, 2024

The Queens County Citizen

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Pandemic: Quebecers get richer, but Canadians get poorer

Pandemic: Quebecers get richer, but Canadians get poorer

Unlike the rest of Canadians, Quebecers have gotten richer during the pandemic, according to data released by the Institut de la Statistic du Québec.

Between 2021 and 2022, per capita income in Quebec increased by 1.8%, but decreased by 1.9% nationwide.

“Quebecers got a lot richer than advertised. It's about 8% except inflation is high. So, on net, in real purchasing power, Quebecers, on average, […] enriched themselves by about 1.8%,” explained economist Francis Gosselin in an interview on the “Le Bilan” show.

This increase in disposable income is particularly significant in the metropolitan area, but it is more moderate in remote areas such as Nord-du-Québec.

Although many Quebecers believe they have become poorer in recent years, this is a perception, Mr. Gosselin noted. Quite the opposite happened.

“Your life is sure to go up 1% or 2%… a tomato costs 70 cents and my salary at the end of the week is 90 cents more… We may realize that life costs more, but actually, our purchasing power has increased in 2020, in 2021 and then in 2023,” he suggested. .

To watch the full interview, watch the video above.

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