According to the latest Labour Force Survey there were 487,500 people in New Brunswick aged 15-64 – the population that feeds the labour market. Here is a question for you. What do you think the population in this age group was back in October 1990?
Twenty-four years later and the population in New Brunswick between the age of 15-64 had declined marginally.
The population in this age group is up by 5.4 million.
If New Brunswick had seen its population in this age group grow by just the national rate of growth over this period, there would be 143,000 more people in New Brunswick. With an employment rate of around 65% in this age group that would mean 93,000 more people working in New Brunswick.
At an average level of income, that would translate into roughly $4.2 billion worth of incremental labour income.
Which would result in roughly $6 billion worth of increased GDP.
Which would mean just about $1 billion in tax revenue for the provincial government.
Would we be having the demography, economy, fiscal health – etc. debate right now?