The Story Of An Economic Rebound In New Brunswick
Jan 20, 2020
The population in New Brunswick, after years of stagnation and slight decline year-over-year, has been slowly but steadily rising since 2015.
The main driver of this population growth has been an increase in immigration and foreign workers. The natural population growth rate (births minus deaths) is still negative in New Brunswick but immigrant numbers are surging – up more than double since 2015.
We have attracted a higher share of immigrants with young children than most other provinces and this has helped us push through another psychological barrier.
We are ever so close to breaking another psychological barrier. The median age in New Brunswick has been rising every year in the province since the mid-1970s. In 2019 it ticked up only 0.1 years.
Again, another crucial indicator is private sector employment. If you take total employment and remove health care, education and public administration, we have seen a fairly steep decline – over 19,000 – between 2007 and 2018 (remember country-wide employment growth was robust after the 2008 recession) – in just the last year we saw a tiny increase.
Finally, capital expenditures in New Brunswick have rebounded somewhat – not back to the peak years – but well above the lows earlier in this decade.
For more information follow the link below:
https://huddle.today/these-8-charts-may-tell-the-story-of-an-economic-rebound-in-new-brunswick