Income growth in Hamilton over the past decade was the highest of Ontario’s five largest metropolitan areas, according to new census data released Wednesday by Statistics Canada.
That, along with a noticeable drop in the city’s poverty rate, is the good news.
The bad news is that Ontario’s income performance between 2005 and 2015 lagged far behind every other province and territory in Canada.
Median total household income in the Hamilton census metropolitan area, which includes Burlington and Grimsby, grew by 5.3 per cent over the past decade, substantially better than the 3.8 per cent rise in income across Ontario as a whole.
But the Hamilton CMA’s income growth was just half of the national average of 10.8 per cent between 2005 and 2015.
Hamilton’s growth rate was better than Toronto, which grew 3.3 per cent, and London, which saw its median income shrink by 2 per cent over a decade.
Median total household income in the Hamilton CMA rose from $71,660 in 2005 to about $75,460 in 2015.
At the municipal level, Hamilton and Burlington each grew by 5.5 per cent, while Grimsby’s median household income edged up by 1.6 per cent.
Between 2005 and 2015, Hamilton’s household income rose from $65,440 to $69,020, Burlington’s went from $88,740 to $93,590 and Grimsby’s rose from $91,720 to $93,150.
Hamilton’s steady income growth is likely a function of an unemployment rate that has been one of the lowest in Ontario for several years, according to Sara Mayo, a social planner with the Social Planning and Research Council of Hamilton.
Article and image source: The Hamilton Spectator