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Possible that these things are part of the declining population death spiral. Less people => less economic opportunity => weaker economy => lower wages. Aging
by Tiktaalik 4y ago
Possible that these things are part of the declining population death spiral.
Less people => less economic opportunity => weaker economy => lower wages.
Aging population => greater healthcare need, less people => taxes raised to make up the program revenue shortfall.
In Canada the Atlantic provinces through the 90s-00s emptied out for various economic reasons with young people going elsewhere for economic opportunity. It's remarkable to see that their sales taxes and income taxes in the area are much higher than BC, one of the economic powerhouses of Canadian federation.
Very hard to get out of this. I think the only solution really is to open up the taps for immigration. Eventually the relative affordability of the declining area can help this. Nova Scotia just pushed past the $1M mark. The relative affordability of the area, growing acceptance of WFH policies and absurdly stupid expensive real estate everywhere else likely helped.