Income Challenges – this is important

You will recall that a key target in the Prosperity Plan was to reduce the income/wage gap with the rest of Canada. Well according to Statistics Canada, we are going in the wrong direction. In a new study out this week called, Income in Canada 2003, a disturbing trend is found to be emerging.

From 2000 to 2003, the average total income for an ‘Economic family’ (two persons or more living in the same household) in New Brunswick grew by $100 (adjusted for inflation) or about 0.2%. This was the second worst rate in Canada and well behind PEI, Nova Scotia and Newfoundland.

There used to be a time when New Brunswick’s average income was much higher than PEIs. Not anymore. As of 2003, the difference (for this measurement) was $900 per economic family.

This is a serious problem.

We are losing population and not growing our income.

Not only are we not moving towards the Prosperity Plan targets, we are losing ground.