Median Personal Income
Based on individual tax returns for 2008, the median income for Kimberley & area residents was about $30,100, slightly less than the regional median but higher than the provincial median.
Median income strictly from employment sources was
$23,900 in the Kimberley area, considerably less than the regional and
provincial medians. Average annual income growth has been higher in
Kimberley than in BC.
Median Personal Income (based on tax returns), 2003-2008
| KIMBERLEY AREA* | EAST KOOTENAY REGION | B.C. | |
| 2008 Median Income |
$30,100 |
$31,500 |
$29,800 |
| 2003 Median Income | $22,700 | $23,500 |
$23,100 |
| Average annual growth, 2003-2008 | 5.9% | 6.1% | 5.3% |
|
2008 Median Employment Income |
$23,900 | $29,100 | $29,600 |
| 2003 Median Employment Income | $19,300 | $22,900 | $25,100 |
| Average annual growth, 2003-2008 | 4.4% | 4.9% | 3.4% |
*Kimberley Area includes Kimberley and the
surrounding rural Area E of the Regional District of East Kootenay.
Note: Dollar figures are current values in the year shown (that is,
they are not adjusted for inflation).
Source: Canada Revenue Agency, compiled by Statistics Canada
Source of Income
Total community income was 59% derived from employment in 2006, a slightly lower share than the provincial average of 64%. Kimberley’s heritage as a mining town is reflected in the importance of pensions, which contributed 20% of total community income compared to only 12% in BC. Retirees are clearly more likely to rely on pensions than on their own personal investments, which accounted for a smaller share of income (8%) relative to the provincial average of 11%.
Source of Income, 2006|
KIMBERLEY AREA*
|
EAST KOOTENAY REGION
|
B.C.
|
|
| Employment |
59% |
70% |
64% |
| Pension |
20% |
13% |
12% |
| Investment |
8% |
6% |
11% |
| Self Employment |
5% |
3% |
6% |
| Other |
5% |
5% |
5% |
| Tax-Exempt |
3% |
3% |
2% |
Source: Canada Revenue Agency, compiled by Statistics Canada
Source of Income Trends
Income source trends in Kimberley (shown below) are consistent with general North American trends of an aging population. Throughout British Columbia the share of income from employment is steadily declining while the share of employment from pensions and investments is increasing.
Source of Income Trends|
YEAR
|
EMPLOYMENT
|
PENSION
|
INVESTMENT
|
SELF EMPLOYMENT
|
OTHER
|
TAX-EXEMPT
|
|
1996 |
65% |
16% |
7% |
3% |
5% |
4% |
|
2001 |
64% |
19% |
4% |
3% |
7% |
4% |
|
2006 |
59% |
20% |
7% |
5% |
5% |
2% |
Source: Canada Revenue Agency, compiled by Statistics Canada
