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Pandemic: Quebeckers are getting richer while Canadians are getting poorer

Pandemic: Quebeckers are getting richer while Canadians are getting poorer

Unlike the rest of Canadians, Quebecers have become wealthier during the pandemic, according to data revealed by the Quebec Statistics Institute.

Between 2021 and 2022, disposable income per capita rose by 1.8% in Quebec, while it decreased by 1.9% across the country.

“Quebecers are richer than advertised. It's almost 8%, except there's been a lot of inflation. So, in real net purchasing power, we say Quebecers, on average, […] Economist Francis Josselin explained, in an interview with the “Le Bellin” program, that the wealthy themselves are approximately 1.8%.

This increase in disposable income is particularly important in the metropolitan area, while it is more moderate in outlying areas, such as Nord-du-Québec.

Even if many Quebecers believe they have become poorer in recent years, that is a perception, Mr. Josselin notes. In general, the opposite happened.

“It is certain that in your life there is an increase of 1% or 2%… Tomatoes cost 70 cents and my salary increases 90 cents at the end of the week… We may realize that life costs more, but in reality and indicates that our purchasing power increased in 2020, In 2021, then in 2023.

To watch the full interview, watch the video above.

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