Thanks, Obama! Canadians Now Richer Than Americans for First Time Ever

For the first time in recent history, the average Canadian is richer than the average American, according to a report cited in Toronto’s Globe and Mail.

The net worth of the average Canadian household in 2011 was $363,202.

If you’re thinking the Canadian advantage must be due to exchange rates, think again. The Canadian dollar has actually caught up to the U.S. dollar in recent years.

“These are not 60-cent dollars, but Canadian dollars more or less at par with the U.S. greenback,” Globe and Mail’s Michael Adams writes.

To add insult to injury, not only are Canadians comparatively better-off than Americans, they’re also more likely to be employed. The unemployment rate is 7.2 percent—and dropping—in Canada, while the U.S. is stuck with a stubbornly high rate of 8.2 percent.

Excerpted from:  http://www.usnews.com/news/articles/2012/07/18/for-the-first-time-canadians-now-richer-than-americans

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