Half of Canadians say Alberta is the top job-creating region in the
TORONTO, Feb. 9, 2012 /CNW/ - Only 47 per cent of Albertans feel
optimistic about prospects for the Canadian economy over the next 12
months, down from 61 per cent one year ago, according to the RBC Canadian Consumer Outlook Index (RBC CCO) released today.
Fewer Albertans are expecting to see improvements in their own personal
financial situation this year (43 per cent compared to 48 per cent last
year). However, they are taking a number of proactive steps to manage
their finances in 2012: reducing debt (28 per cent), spending less (26
per cent), saving or investing more (25 per cent) or taking all of
these actions (27 per cent).
"Consumers in Alberta aren't waiting for turnaround in the economy or
their personal financial situation - they're taking control of their
own finances in very positive ways," said Bruce MacKenzie, regional
president, Alberta and the Territories, RBC. "Our financial advisors
are ready to help balance financial priorities, whether it be for
budgeting for day-to-day expenses or setting longer term goals."
The RBC CCO found that Alberta was named the top job-creating region in
the country by half of Canadians (50 per cent). A majority of Albertans
(84 per cent) named their home province as the top job-creating region
in the country, followed by Saskatchewan (nine per cent) and Ontario
(five per cent).
The survey also found that, compared to other provinces, Albertans are
less anxious about the job market. Only 15 per cent are concerned about
someone in their household losing their job or being laid off - below
the national average of 21 per cent. However, two-in-ten Albertans (18
per cent) say they would move to another part of the country for
employment reasons, second only to Atlantic Canada (19 per cent).
The latest RBC Economics Provincial Outlook also found that job anxiety is not likely to be a major issue for
Alberta in 2012.
"Coming off a very active year, in which the oil industry acted as a
catalyst across a number of sectors, Alberta's job market is expected
to continue to boom," noted Craig Wright, senior vice-president and
chief economist, RBC. "Alberta will be one of the more active regions
bright lights in what has been a slow start to 2012 for most of the
rest of the country."
The RBC CCO is Canada's most comprehensive consumer assessment of the
economy, personal financial situation and economic and purchasing
expectations. Other provincial highlights from the February RBC CCO
Personal Finance: Compared to the same time last year, 44 per cent of Albertans believe
they are standing still financially, 31 per cent say they are getting
ahead financially, and 26 per cent feel they are losing ground.
Personal Debt: Albertans now carry an average of $13,718 in personal (non-mortgage)
debt, compared to the national average of $11,729.
Major Purchases: Compared to the same time last quarter, 45 per cent of Albertans say
they will be delaying major purchases due to the current economic
conditions, a drop of five percentage points.
Lottery Windfall: Albertans work for more reasons than just the money, with 41 per cent
saying that even if they were to win $1 million in a lottery, they
would continue working; only 24 per cent say they would retire.
The national RBC CCO release, full set of regional releases and related
comparative data charts can be accessed via rbc.com/newsroom/2012/0209-cdn-consumer.html.
About RBC's debt management and other financial advice and interactive
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About the RBC Canadian Consumer Outlook Index
Benchmarked as of November 2009, the RBC CCO is conducted online via
Ipsos Reid's national I-Say Consumer Panel. Data was collected between
January 9 to 16, 2012 via 4,479 Canadians (490 British Columbia, 498
Alberta, 538 Saskatchewan / Manitoba, 1,395 Ontario, 921 Quebec, 635
Atlantic Canada). Weighting was then employed to balance demographics and ensure that the
sample's composition reflects that of the adult population according to
Census data and to provide results intended to approximate the sample
universe. A survey with an unweighted probability sample of this size
and a 100 per cent response rate would have an estimated margin of
error of ±1.46 percentage points, 19 times out of 20, of what the
results would have been had the entire population of adults in Canada
For further information:
Nicole Fisher, RBC, 403-292-3970
Craig Christie, RBC Corporate Communications, 416-974-8820