The worth of Canadian households is so much more in comparison to their American counterparts by a strong margin for the first time, states report.
According to the report by the Toronto Globe and Mail, with a net worth of 3,63,202 dollars, the average Canadian household is worth 40,000 dollars more than the average American household, the report said.
AdvertisementThe average American household's net worth is 3,19,970 dollars, the New York Daily News reports.
The average Canadian also has a house 'worth over $140,000 more' than their neighbours to the south, the newspaper reported, giving them "almost four times as much remaining equity in their real estate."
Their unemployment rate dropped to 7.2 percent last month, while the American unemployment rate has held steady at 8.2 percent for the past few months.
Canadian consumer confidence is also higher than in the United States, the report said.
The average American has more liquid assets, cash in hand, than the average Canadian.