StatsCan – Economic well-being among immigrant and Canadian-born families: The joint distribution of income and wealth

Encouraging that established immigrant families matched or exceeded the wealth of Canadian-born families, although it would be useful if this data was disaggregated by ethnic group or visible minority:

This study examines disparities in economic well-being among recent immigrant, established immigrant and Canadian-born families. Using pooled data from the Survey of Financial Security (2016, 2019 and 2023), families are classified across income and wealth quartiles to assess economic well-being. Across all income quartiles, recent immigrant families possessed less wealth than Canadian‑born families, with the wealth gap widening toward the top of the income distribution. While socioeconomic factors such as homeownership, having a private pension plan, inheritance and life-cycle stage explained wealth differences among families at the bottom of the income distribution, substantial gaps persisted at higher levels of income even after accounting for these factors. By contrast, established immigrant families matched or exceeded the wealth of Canadian‑born families across the income distribution, underscoring the importance of time in Canada and life‑cycle processes in wealth accumulation….

Source: Economic well-being among immigrant and Canadian-born families: The joint distribution of income and wealth