In a recent interview with the Calgary Herald, Alberta Central Chief Economist Charles St-Arnaud spoke about both the recent job numbers for Alberta and the evolving housing market.

As the province looks to recruit workers from elsewhere in Canada, the question remains if the appeal is a strong given the higher cost of housing and changes in the wage and income dynamics in Alberta and Canada for 2023, compared to previous years when Alberta successfully recruited workers from the Maritimes and other parts of Canada.

He pointed out that labour shortages are still affecting much of the country and although Alberta has a higher unemployment rate than the national average, the province has done a good job absorbing the massive population influx over the past year.

On income levels, he also noted:

Alberta does have the highest income levels in the country. However, wage growth in Canada has risen by 5.4 per cent over the past 12 months, while only increasing by four per cent in Alberta. What I would call the Alberta wage advantage is melting.”

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