Special Report: Chasing Affordability
The return of interprovincial migration to Alberta
By Mark Parsons, ATB Economics 16 May 2024 1 min read
Why are so many people moving to Alberta from other provinces? In our new research report entitled Chasing Affordability, we venture to find out.
What’s striking about the latest surge in interprovincial migration is that it’s not following the usual pattern: an energy-related boom that leads to tight labour markets, luring workers from the rest of the country.
Yes, Alberta is churning out jobs faster than the rest of Canada, but there’s something else going on. We find that relative housing affordability is playing an outsized role in the current wave of migration to Alberta.
We offer clues that point us in the ‘chasing affordability’ direction. We expect migration from the rest of Canada to continue, but at a slower rate. With the housing affordability gap narrowing, labour market factors will once again play a more important role.
The motivation for this paper was a scatter plot (see below). That’s right, a scatter plot. I’ve always looked at unemployment rate differentials as a key driver of interprovincial migration. That didn’t work so well this time. What transpired is a 10-page report with lots of interactive charts! Check it out here: Chasing Affordability: The return of interprovincial migration to Alberta.
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