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Alberta's economic growth expected to slow, but outperform other provinces

As Alberta's economic growth is expected to slow but outperform other provinces, Vibrant Communities Calgary draws attention to the growing number of individuals facing economic hardships

8 June 2023

Analysts predict that Alberta's economic growth will remain strong compared to other provinces, but VCC says more and more people are grappling with economic pressures and should not be overlooked.

“Calgary is the second-most unequal city (economically in Canada) after Toronto. ” said Meaghon Reid, executive director of Vibrant Communities Calgary.

She said 28% of Calgary households can’t weather a financial shock over a three-month period while 21% of Calgarians can’t afford healthy food. And more than 81,000 households are spending 30 to 50% of their income on lodging, said Reid.

While she said the province’s economic growth is generally a positive factor, too many people are falling through the cracks and can’t keep up with ballooning living costs.

“I’ve not seen anything like this in 20 years working in this field," she said, explaining, the situation has taken a toll on mental health, and the need for affordable housing has become a pressing issue.

Read the full article: Alberta's economic growth expected to slow, but outperform other provinces

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