Canadians, on Average, Now Richer Than Americans

Economic times here in America are pretty tough, but things aren’t so shabby for our neighbors to the north.

Over the past five years, the net worth of the average Canadian has crept up, overtaking the average American’s wealth for the first time. These days, Canadian households are about $40,000 richer than American ones.

The figures from Environics Analytics WealthScapes, first published in Toronto’s Globe and Mail last month, place the net value of the typical Canadian household at $363,202 versus $319,970 below the border. And, writer Michael Adams points out, "these are not 60-cent-dollars, but Canadian dollars more or less at par with the U.S. greenback."

Not only are Canadians richer, Bloomberg View columnist Stephen Marche reported on Sunday, they're also more likely to have a job. According to the latest figures, Canada’s unemployment rate continues to sink down to 7.2 percent while the U.S. has held steady at 8.2 percent.

[link to slatest.slate.com]