How Does Your Income Compare for Wealth Accumulation in Retirement

The income gap or inequality—defined as the gap in the share of disposable income between households in the top 40% and bottom 40% of the income distribution—declined to 45.1% in the second quarter, returning to levels that prevailed prior to the COVID-19 pandemic. The income gap was down from a high of 47.0% recorded in the second quarter of 2022, when the expiry of government COVID-19 support benefits in combination with weaker labour market conditions pushed the income gap to a historical high.

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The income gap...