Alberta has been a veritable hot spot of new residents lately with its strong economy and low unemployment rate.
“There’s a reason why Calgary’s CTrain has been feeling more congested lately; people have been flocking to Alberta,” said ATB Financial economist Will Van’t Veld. “Not since the boom years have so many people arrived in our province — and if this pace keeps up it will have important implications for the local economy.”
Alberta gained about 6,000 migrants due to international migration in the first quarter of 2012, almost double the amount of in-migrants in the province five yearsago.
“While migrants from other provinces have recently shown more interest in our province, the upward trend in international migration has been occurring since the recession hit,” said Van’t Veld.
With its low unemployment rate, Alberta is seeing an increase of weekly wages. The average weekly wage in the province currently sits $156 more than that of Ontario.
“The tremendous influx of people during the boom years caused a severe shortage of housing and other social services,” said Van’t Veld. “So far, Alberta’s infrastructure and housing stock appears more prepared to accommodate the growing population.
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