Household economic well-being during the COVID-19 pandemic, experimental estimates, first quarter to third quarter of 2020

Over the first three quarters of 2020, disposable income for the lowest-income households increased 36.8%, more than for any other households. At the same time, the youngest households recorded the largest gain in their net worth (+9.8%). These changes were driven by unprecedented increases in transfers to households, as the value of government COVID-19 support measures exceeded losses in wages and salaries and self-employment income.

As the pandemic unfolded in Canada, households experienced extraordinary changes in their economic well-being. While quarterly releases of gross domestic product and the national balance sheet provide an aggregate view of these impacts, new experimental sub-annual distributions of household economic accounts (DHEA), released today, provide insight into how the pandemic and the associated government support measures have affected the economic well-being of different groups of households in Canada.



Four Actions That Can Hurt Credit Scores

During the Four Actions that Can Hurt Credit Scores webinar, you'll learn about:

  • Key events which can bring down credit scores
  • How collections are reported to credit bureaus and how long they affect scores
  • What can happen to credit scores when you apply for too much credit in a short amount of time

Their guest speaker is Julie Kuzmic, the Director of Consumer Advocacy at Equifax Canada, and a recognized authority on consumer credit. In her role leading consumer advocacy within the organization, Julie helps Canadians build credit confidence.