Newfoundland and Labrador’s incomes are driven primarily by the offshore oil and gas sector and mining, and employment volatility tied to commodity prices creates income uncertainty. In 2024, its average individual income was the highest of the four Atlantic provinces, at $55,600 against the national average income of $59,400.
Income data on this page is from Statistics Canada’s Canadian Income Survey (CIS). Both the individual income figures and the household/family after-tax income figures are from the April 29, 2026 release (2024 reference year), the most recent available.
Average and median income in Newfoundland and Labrador
| Metric | Amount | vs. Canada |
|---|---|---|
| Average Individual Income (2024) | $55,600 | -$3,800 |
| Median Individual Income (2024) | $41,300 | -$3,100 |
| Median After-Tax Income, combined families & individuals (2024) | $68,000 | -$7,500 |
Sources: Statistics Canada, Canadian Income Survey, April 29, 2026 release (2024 reference year): Table 11-10-0238-01 (individual total income, all persons aged 15 and over, including those with zero income) and Table 11-10-0190-01 (median after-tax income).
Newfoundland and Labrador’s median after-tax income in 2024 was 3.8% higher than in 2023 (in 2024 constant dollars). Use our salary calculator to see your Newfoundland after-tax take-home pay.
Key industries driving Newfoundland income
- Offshore oil and gas — The Hibernia, Terra Nova, White Rose, and Hebron platforms are the backbone of the economy, with above-average salaries for offshore workers
- Mining — Iron ore mining in Labrador West (operated by Rio Tinto IOC and Tacora Resources) and nickel mining at Voisey’s Bay provide high-paying jobs
- Federal and provincial government — Public sector is a major employer, particularly in St. John’s
- Fishing and aquaculture — Traditional industries that remain important, particularly in rural communities. Snow crab and shrimp are among the highest-value fisheries.
- Healthcare and education — Memorial University and the provincial health authority are significant employers
- Hydroelectric power — The Muskrat Falls project and Churchill Falls generating station (one of the largest in the world)
Newfoundland’s tax environment
- HST of 15%: against 15% in New Brunswick, 15% in PEI, 14% in Nova Scotia (since April 1, 2025) and 13% in Ontario
- Provincial income tax rates — among the higher rates in Canada
The combination of higher tax rates and lower average incomes reduces take-home pay relative to lower-tax provinces. Calculate your exact take-home with our income tax calculator.
How Newfoundland compares to other Atlantic provinces
| Province | Avg Individual Income (2024) | Median Individual Income (2024) | Median After-Tax Income, combined (2024) |
|---|---|---|---|
| Newfoundland | $55,600 | $41,300 | $68,000 |
| Nova Scotia | $52,900 | $43,200 | $64,200 |
| PEI | $51,100 | $42,000 | $65,900 |
| New Brunswick | $50,900 | $42,000 | $65,100 |
| Canada | $59,400 | $44,400 | $75,500 |
Among the four Atlantic provinces in 2024, Newfoundland and Labrador ranked highest on average individual income, lowest on median individual income and highest on median after-tax income; the last row of the table shows the national figures. The province’s economy is exposed to oil and gas price swings. Use our income percentile calculator to see how your income ranks.
Frequently asked questions
What is the average salary in Newfoundland and Labrador? Newfoundland’s average individual income (all sources, 2024) is $55,600, 6.4% below the national average; offshore oil employment pulls the average up. Many traditional resource industries (fishing, forestry) pay below-average wages for entry-level workers.
Is Newfoundland a good place to live on an average salary? Taxes are part of the picture: at an $80,000 salary in 2026, provincial income tax is $7,331 in Newfoundland and Labrador, against $4,885 in Ontario and $4,490 in Alberta, and the HST is 15%.
What are the highest-paying jobs in Newfoundland? Offshore oil and gas (drilling engineers, marine technicians), healthcare (physicians, specialists), government, and skilled trades in resource industries are among the province’s best-paid fields. Federal and provincial public service positions are stable, well-paid employers.
Related tools and resources
- Income Percentile Calculator — See where your income ranks in Canada
- Salary Calculator — Calculate your Newfoundland after-tax pay
- Income Tax Calculator — Estimate your Newfoundland income tax
- Newfoundland Mortgage Rates — Find the best rates
- Newfoundland Housing Market — Current home prices
- Mortgage Affordability Calculator — How much home can you afford
Sources
The figures and rules on this page come from these sources, last checked against them between September 5, 2026 and September 24, 2026. How we check facts.
- Canada Revenue Agency: Current year
- Revenu Québec: Income tax rates
- Statistics Canada: Data table
- Statistics Canada: Distribution of market, total and after-tax income of individuals, Canada, provinces…
- Statistics Canada: Data table