Average & Median Income in Newfoundland and Labrador by Age

In 2020, the median total income in Newfoundland and Labrador was $36,800 and the average was $48,440, among people aged 15 and over with income (Statistics Canada, 2021 Census). That compares with a national median of $41,200. The median was $42,000 for men and $32,400 for women. After adjusting for inflation, the median was $34,400 in 2015, so it rose 7% over five years.

The average sits above the median because a smaller number of high incomes pull it up — the guide to average income in Canada explains which figure to use.

How Newfoundland and Labrador compares

Newfoundland and Labrador's median income falls further from its peak to retirement age than any other province's: from $52,400 in the 35-44 band to $26,600 among those 65 and older, a drop of 49.2 percent. That $26,600 is the lowest median income for those 65 and older in any province. Younger adults sit mid-table, ranking sixth of ten on median income at both 25-34 and 35-44. By 45-54 the province has slipped to ninth, and in the two oldest bands it is last. Its province-wide median income is the lowest of the ten provinces, though its average ranks seventh. Net worth ranks ninth of ten in every age band, ahead of only New Brunswick, from $102,100 among those 25-34 to $560,500 among those 55-64. Against New Brunswick the income order reverses with age: Newfoundland and Labrador has the higher median income at 25-34, 35-44 and 45-54, and New Brunswick has the higher figure at 55-64 and among those 65 and older, $28,200 against $26,600.