The 2010 gross income for every man, woman, and child (gross personal income per capita) in Labrador West was $44,600. For the province, gross personal income per capita was $28,900.
After tax personal income per capita, adjusted for inflation, was $29,400 for Labrador West in 2010. For the province, after tax personal income per capita was $20,100.
Half of the males in Labrador West received more than $82,200 in income during 2010, while half of females received more than $26,200. Half of the males in Newfoundland and Labrador received more than $32,500 in income during 2010, while half of females received more than $20,800. The national values were $36,000 for males and $24,100 for females.
The average couple family income in Labrador West was $129,500 in 2010. The average couple family income in the province was $85,700. The national value was $96,700.
Cost of Living
The cost of living in Labrador West is among the lowest in Canada while residents enjoy a high standard of living. Housing is affordable and the region has the advantage of low electrical rates. Groceries are reasonably priced. The communities are serviced by a large grocery store and department store cold and dry goods that aggressively compete to offer residents the lowest prices in town.
Labrador West has the best retail shopping in all of Labrador with many national chains servicing Labrador City, Wabush, Churchill Falls and residents of other Labrador communities via the Trans Labrador Highway.