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Canadian youth set for more spending power

Toronto – Continuing income growth means today’s Canadian youth will assume more spending power than their parents currently have during the course of their lifetimes, according to a new report from BMO Economics. The report cites ongoing gains in real media income and compensation, as well as expected future decreases in unemployment, in making this rosy forecast.

"Since 1996, real median income has turned higher for all age groups, rising 18 per cent to 2010," said Sal Guatieri, VP, BMO Capital Markets. "Furthermore, the annual gain of 1.2% was more than twice that in the United States during this period."

 

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