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Research from the Broadbent Institute reveals that the country’s median annual employment income (adjusted for inflation) rose by $1,073 (3.5%) between 2006 and 2012.

Resource-producing provinces like Newfoundland and Labrador, Saskatchewan, and Alberta fared the best, while British Columbia and Ontario were the only two provinces that saw decreases.

“There are several factors driving annual employment income. First, annual incomes will rise if pay rates and hourly wages and annual salaries increase. Second, incomes will rise if people are working more hours in the weeks. Third, incomes will rise if well-paid jobs are being created, allowing workers to move from lower-paid to higher-paid jobs,” wrote Andrew Jackson, senior policy advisor at the Broadbent Institute.

Around 1 in 5 people in the Greater Toronto Area are precariously employed, and this could be one of the factors suppressing income growth according to Jackson. Low wages can also have a stagnating trickle-down effect on Ontario’s interconnected economy.

“You have two options here: either you cut your spending, which means you’re contributing less to the economy today, or you borrow money in order to make up for lost income. That just means you’re going to have to pay it back later on down the road,” said Gareth Watson, director at wealth management firm Richardson GMP.