Literacy skill level and household income are positively correlated with each other according to a 2016 Statistics Canada study. Higher literacy skill correlates to higher household income and lower literacy skill correlates to lower household income. According to a 2017 discussion paper presented at Frontier College, "investment in literacy can benefit the Canadian economy by: reducing costs in areas such as social assistance, healthcare, and justice; increasing productivity and earnings" (Frontier College - National Forum on Literacy and Poverty, 2017, p.2). The same paper stresses that proper literacy education must be delivered at the community level. Increasing the levels of education and literacy in a country is one tool to help lift people out of poverty.
Literacy and Poverty - Frontier College National Forum
Back to School...By the Numbers (Statistics Canada,2018)
Census in Brief: Does education pay? A comparison of earnings by level of education in Canada and its provinces and territories (Statistics Canada, 2016)