Alberta Average Household Income in 2010 is the Highest in Canada
Monthly reports are showing Albertan’s are earning the highest weekly paycheques out of all of Canada. Another separate report for Canada’s annual household income is also showing that Alberta reigns supreme.
If you are looking for a good paycheque and higher than average annual income, this province would be a good place to start.
In 2010 the average annual household income for Albertan families was $78,800 after taxes (deducting from total household income). This number has also taken into account the government program funding such as Employment Insurance and Old Age Security (adds to total household income).
Canada’s national average for after-tax dollars made is $65,500. Albertan’s make 19.2% more than this number and 11.4% more than second place Saskatchewan, whose average after-tax dollars income is $70,100.
There are several reasons why annual income in Alberta is the best in Canada. Number one is the strong economy with a job market in good condition, increasing weekly wages and low unemployment rates. Also, taxes in the province are typically lower and people work a high amount of hours on a weekly basis. Another reason is the booming oil and gas sector. No wonder Alberta’s annual income is higher than the rest!
Another contributing factor to the strong Albertan economy is its young population. How young? Alberta in fact has the youngest population out of all the provinces of Canada! This acts to push income numbers higher as retired seniors tend to make substantially less than a young person still active in the job market.
Calgary has been an economic strength of Canada during the recession, and will most likely continue to be for many years to come. With no end in sight for the demand of petroleum products and increased development of the oil sands, expect job opportunities in the province to increase dramatically.
Did you know Albertan’s also Love their Wine?