Generation Squeeze has released a study showing the B.C. economy isn’t quite as rosy for young people around the province.
Founder Paul Kershaw says B.C. has reported the worst reductions in full-time earnings over the last four decades compared to the rest of the country.
“This is the case for all age groups. We can all be frustrated that B.C. has lost more ground on earnings than anywhere else, but it’s especially bad for those in our 20’s, 30’s and early 40’s. We’re earning eight to ten thousand dollars less after inflation than did the same age person in the late 1970’s.”
The study also found it takes a young British Columbian 19 years of full-time work to save up for a 20 per cent down payment on a home.
“What our study is really showing is that if you only look at blunt economic growth rates, we’re missing and even being distracted by that one indicator from some much more important things. Namely, like how much can people earn, and what are our major costs of living and how much personal debt are we accumulating?”
Kershaw adds B.C. is under-performing in those categories compared to anywhere else.
With files from Jon Meyer