B.C. has Canada’s worst-performing economy for younger generations: report
http://globalnews.ca/news/3307975/generation-squeeze-bc-economy/
[quote]B.C. is Canada’s “worst-performing economy” for younger generations, said a report released Wednesday by the organization that advocates on behalf of Canadians in their 20s, 30s and 40s
When you live here in B.C., we’re presented with a range of commercials paid for by B.C. which present B.C. as the land of opportunity,” Generation Squeeze founder Paul Kershaw told Global News.
“They make that claim largely based on referring to the fact that we have the best economic growth rates in the country.
“But it begs the question, how good is that economic growth? What does it mean for people on the ground?”
For young people, it has meant lower earnings, more debt and more difficulty buying a home, the report said.
B.C.’s GDP may have grown by 2.5 per cent since the 1980s. But earnings in that time have dropped faster for young people in B.C. than any other province, it noted.
Median full-time earnings for 25- to 34-year-olds in 2014, the last year for which data was available, were down by over $8,400 from the period of 1976 to 1980.
Meanwhile, median earnings for this age group across Canada fell by just over $4,000.