Working in Alberta Labour Market
- Between 1997 and 2017, Alberta’s unemployment rate averaged 5.3 percent, compared to 6.8 percent in British Columbia and 7.1 percent in Ontario over the same period.
- In 2018, Alberta’s unemployment rate had risen to 6.6 percent, higher than the Canadian average of 5.8 percent.
- Although Alberta’s unemployment rate has risen from historical lows to rates that are currently higher than what economists typically generalize as a balanced labour market, Alberta is expected to have a balanced labour market once the current slowdown ends. • Alberta has a dedicated workforce: in 2018 full-time workers in Alberta were absent from work for an average of 8.7 days compared with 10 days for the average Canadian worker.
Working in Alberta Low Personal Taxes
- Alberta’s personal tax advantage results from low personal income tax rates, no general sales tax, and low gasoline taxes.
- Albertans pay low personal income taxes, with one of the lowest marginal income tax rates and the highest basic and spousal tax credit amounts in Canada.
- As provided in the following examples, in Alberta, a two-income family of four:
– Earning $100,000 pays $3,800 less in total taxes than in Ontario and about $1,700 less than in British Columbia.
– Earning $200,000 pays $7,100 less in total taxes than in Ontario and about $17,500 less than in Quebec.
Working in Alberta Family Income
- In 2017, for the 14th consecutive year, families living in Alberta had the highest median after-tax income at $97,800. For that same year, the median after-tax income was $86,200 in second-ranked Saskatchewan and $81,500 for all of Canada.
- After-tax family income is comprised of market income and government transfers net of income taxes.
- Another measure of income is the median family market income. This is the sum of earnings from employment, investment income and private retirement income excluding government transfers.
- In 2017, Alberta families had $102,200 in market income, 28 percent more than the Canadian average of $80,100, and $15,400 more than second-ranked Saskatchewan. Working in Alberta Standard of Living
- Alberta has been the nation’s leader in economic well-being for more than 30 years and in sociology-economic well-being for the past 10 years.
- The Index of Economic Well-Being is a measure of economic welfare and includes measures of wealth, the distribution of income and wealth, economic security, environmental sustainability and non-market activities such as household work.
- In 2016, Alberta maintained the top spot in the nation and ranked second in an international comparison of economic well-being in Alberta and 14 OECD nations.
- The Human Development Index is a measure of socio-economic well-being and includes measures of life expectancy, education and income.
- In 2016, Alberta was second in the country and tied for sixth in an international comparison of the 13 Canadian provinces and territories and 175 OECD nations.
British Columbia Incorporation Service in 24 Hours
Business Corporations are incorporated in British Columbia, according to the provisions of the British Columbia Business Corporation Act with the British Columbia Corporations Division. Company Formations Canada provides fast and easy British Columbia Incorporation Service and provides all the documents your new British Columbia corporation will need to stay up-to-date and in compliance with the British Columbia Business Corporation Act.
