Where are the more lucrative places in Alberta to earn a living?
ATB Financial’s economics and research team punched together some numbers from data supplied by Statistics Canada and released their findings on Friday.
“Of Alberta’s 18 census metropolitan areas and census agglomerations, Wood Buffalo stands out with the highest median after-tax family income in 2017 ($103,310). This figure reflects the large number of Wood Buffalo residents with relatively high-paying, oil-sector jobs. Median income in Wood Buffalo, however, was down by 3.5 per cent in 2017 compared to 2014. Okotoks is a distant second at $80,520, followed by Cold Lake at $72,010,” said ATB in its daily economic update The Owl.
“At the other end of the list are Camrose ($57,240), Brooks ($57,050) and Wetaskiwin ($50,790). Median income outside the CMAs and CAs was $59,030.”
ATB said the median after-tax family income for Alberta as a whole was $62,950 in 2017, well above the national figure of $52,330.
“The negative effects of the recession are evident, however, with the national figure rising by 7.2 per cent since 2014 compared to an increase of just 0.5 per cent in Alberta (these figures do not take inflation into account),” it said.
“In fact, median income fell between 2014 and 2017 in 10 out of the 18 large urban areas in the province. Families in Lloydminster lost the most ground (-7.0 per cent) followed by Sylvan Lake (-5.8 per cent). Lethbridge has seen the largest increase since 2014 at 5.7 per cent followed by Canmore at 4.1 per cent.”