If you had to put a price on living in one of the world’s most livable cities, how much would you be willing to pay?
A few hundred dollars? A few thousand? How about $6,335.52?
That’s the average difference in annual income between B.C. and Alberta last year and the biggest income gap between B.C. and any other province in the country.
According to Statistics Canada’s latest Labour Force Survey, the average weekly wage in Alberta last year was $969.36, up from $947.21 in 2010. In comparison, B.C.’s average wage rose to $837.37 from $822.81.
For much of the past decade, Alberta’s average wage has been rising much faster than the average wage in B.C. due primarily to the booming oil-based economy. Since 2002, Alberta’s annual average wage has risen 42%. Meanwhile, B.C.’s wages have risen only 25%.
That relatively slower income growth has continued to erode B.C.’s housing affordability and, ultimately, the province’s livability as an increasing proportion of household income must pay for accommodation.
Keeping the HST in B.C. might have been a way to help boost lagging income growth.
According to the Labour Force Survey, the most goods-producing sectors (that would’ve benefited from the HST) have average incomes comparable, or better, to those in Alberta. Their weekly wages ranged from $934.31 in manufacturing and $1,002.99 in construction to more than $1,300 in the forestry, mining and oil and gas sectors.
The only comparable weekly wages in the service-sector were professional, scientific and technology ($1,104.15).
Jobs in retail, one of the largest service-sector areas, had an average weekly wage of $633.41.
The stagnant growth in high-paying jobs appears to be having an impact on migration patterns. For the first time in more than a decade, B.C. had virtually zero net interprovincial migration. According to BC Stats, the majority of people leaving B.C. went to Alberta.
While B.C.’s unemployment rate has remained below the national average for the past seven months, it will be vital to expand markets for B.C.’s goods and professional services. Stalled growth is only going to solid ify the feeling that the province’s green, sustainable lifestyle is just not worth it. •
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