Wages matter when it comes to young people in province deciding whether or not to leave New Brunswick. That word comes from the province’s chief economist David Campbell who says they are more mobile than ever and they’re not taking jobs that pay under 35 thousand dollars a year.
Campbell says there are ramifications for the provicial economy with industries that pay 15 or 16 dollars an hour deciding not to expand or even close down entirely.
Campbell says the economic growth rate in New Brunswick tumbled after 2008 when we experienced the financial meltdown on Wall Street and has not recovered. The growth rate this year is forecast to be meagre.
He says urban growth is critical. He also points out the numbers of people leaving Toronto each year are about the same as for New Brunswick but the difference is 90 thousand immigrants move into Toronto every year.
An ominous sign, according to Campbell, is the number of people who own and operate businesses is stagnating.
