, household debt as a percentage of disposable income rose to 170.7 per cent in the third quarter, up from 162.8 per cent in the second quarter.Newsletter sign-up: Get The COVID-19 Brief sent to your inbox
While employment got within 3.7 per cent of its pre-pandemic levels during the quarter, it wasn't enough to offset the wind-down of government supports, as employment insurance benefits dropped almost 50 per cent in the quarter, the report said. "Wealth distribution tends to be highly unequal across income groups, as a result, recent gains in net worth have disproportionally benefited Canadians who were already better off," Ksenia Bushmeneva, an economist at TD Economics, in a note to clients about the household wealth report.
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