Middle class families in Canada are earning 50 per cent more income than they did 40 years ago, a new study shows.
The average worker’s standard of living has improved since 1976, thanks to shorter working hours and more affordable consumer goods.
Author of the study conducted by The Fraser Institute, Charles Lammam, says middle class Canadians are far from falling behind.
“What’s really critical is for us to cut through the rhetoric. Despite what politicians might say, despite all the doom and gloom that we hear, the reality is middle class Canadians are doing better today than they did several decades ago. Incomes are up and their purchasing power is higher than it ever has been.”
The study found that a TV cost the equivalent of 113 hours of work in 1976 and in 2011, just 12 hours work.