Comparing Alberta’s Young and Old
Demographics play a big role in society. Government’s must allocate funding towards more services like schools or more retirement homes and health care services depending on the populations age distribution and demand. According to Statistics Canada, it looks like Calgary will be focusing more on schools which is a great thing! A younger population actually generates more economic growth and government revenues as more people are working and less are dependent on the government.
A report from the ATB Daily Economic Comment says that “For a variety of reasons, from a high birth rate to a strong economy drawing younger individuals, Alberta’s population is younger than the rest of the country and a relatively young population has significant advantages”
Calgary is the Youngest of Major Canadian Cities
This demographic shift is happening throughout most developed countries in the world and certainly across Canada. More people are retiring and the population is aging. Calgary and all of Alberta will probably have a much easier transition though than the rest of Canada. With the best predicted economic growth and migration in Canada, it is not surprising that lots of people have been and will continue to move to Alberta. This is one big driver of our younger population as more jobs means more migration. According to many estimates hundreds of thousands of jobs could be created in Alberta over the next several decades which would lead one to think we may continue to defy the demographics trend towards retirement homes!
What do you think?