Immigration.ca - Canada Immigration News - Oct 2006
A recent study by the Chartered Accountants of Saskatchewan illustrates how thanks to rising incomes, low debt levels and one of most affordable costs of living in Canada, Saskatchewan is not only much better off than it was a few years ago but has also become one of the most attractive places to live in Canada.
The report, entitled �Saskatchewan as a Place to Live�, shows the province had personal disposable income growth of 7.4 per cent from 2000 to 2005, more than double the Canadian average, second only to Alberta's per capita income growth of 11.1 per cent.
In dollar terms, personal disposable income in Saskatchewan increased $1,514 per capita, behind Alberta, but ahead of Ontario, which saw per capita income decline during that period.
Nola Joorisity, CEO of the Chartered Accountants of Saskatchewan indicated that the rise in personal incomes arose both out of a labour shortage in Saskatchewan driving up wages, and a trend of workers moving from low-paying part time jobs to high-paying full time jobs.
An additional major factor was the personal income tax reforms introduced in the 2000 provincial budget, which lowered income tax rates and indexed tax brackets to inflation, making Saskatchewan an even more attractive destination for workers.
Another indicator of economic well-being is personal debt per capita, which measures the amount of average individual debt versus average individual income. Saskatchewan�s personal debt per capita, at 62 per cent of personal income per capita in 2005, was the lowest among the four western provinces, and Ontario. The Canadian average is 91 percent, and the average in BC is significantly higher at 124 percent.
A highlight of Saskatchewan�s attractiveness as a destination is it�s cost of living: the province has one of the lowest costs of living in the country, with shelter representing 17.8 per cent of total living costs -- thanks largely to low housing prices. Housing prices in Alberta and BC, on the other hand, are rising dramatically due to an influx of migrants from across the country.
Regina Leader-Post, October 13th
