Canadians Earn More Money Than Americans

| by Michael Allen

Canada is often denigrated by America for everything from their military to their 'evil' socialist health care system, but now Canadians can wave their wallets in the face of the U.S.

According to a report in Toronto's Globe and Mail, the average Canadian household is more than $40,000 richer than the average American household.

The net worth of the average Canadian household in 2011 was $363,202, compared to around $320,000 for Americans.

For those who might blame currency exchange rates for the difference, the Canadian loonie has actually caught up to the U.S. dollar in recent years.

Canadians are also more likely to be employed than Americans. The Canadian unemployment rate is 7.2 percent, and dropping, while the U.S. has a rate of 8.2 percent.

According to the report, real estate held by Canadians is worth more than $140,000 more on average, and they have almost four times as much equity in their real estate investments.

However, the U.S. does top Canada in murders, numbers of wars currently engaged in and personal bankruptcies due to health care costs.