Canadians Savings Rate Post Pandemic

Canadians are saving a larger share of our income than we were in the 5 years before the pandemic. For those with the means to save, higher savings could indicate a stronger economy with higher incomes. But it could also be an anxiety response to economic uncertainty.

Another factor to consider: increased savings rates aren’t spread equally, and low-income households are actually borrowing to make ends meet while high-income households are able to put money away.