Too much money has been spent, but the wages of Alberta’s working-class people have been rising and falling. The governor has vowed to create 75,000 high-paying jobs in five years

It has been spent too much, and the wages of Alberta’s working-class people have been rising and falling. The governor has vowed to create 75,000 high-paying jobs in five years. The Alberta Times A recent research report shows that although this...

Alberta Times

A recent research report shows that although the state's unemployment rate has dropped from its peak of 10.8% to the current 8.3%, the overall income of wage earners has increased by 15%. The median annual salary is US$34,000. Compared with surrounding western states, wages are still quite low. The median wages in Nevada, Colorado and Washington are $32,656, $37,065 and $40,144 respectively. ASU economist Lee McPheet said that in the past four years, the average wage in Alberta has increased by almost $5,500, which seems good, but during the same period, hundreds of thousands of low-wage workers in Alberta have lost their jobs. "The job losses below the median have had the effect of pushing the median wage up to where it is now," McPheet said. Although data shows the state's job market is slowly recovering, from May 2010 to May 2011, there were gains in management, computer, education and health care jobs. However, home prices continue to rise, and many families are scrimping for loans of more than $100,000. Rising food, education, health care and fuel costs place a heavy burden on every resident. The governor signed a series of bailout laws in 2011, including phased tax cuts for businesses and the establishment of a public-private business authority to attract more capital to the state and private enterprise investment. A year has passed and the results are beginning to show. During the four years of the economic recession, Alberta lost 300,000 jobs. In fiscal year 2012, with the help of the state government, only 5,610 jobs were created, a drop in the bucket. "But I believe we have made the right decision to bring more higher-paying jobs to Arizona," Governor Brewer said. The state government hopes to create 75,000 high-paying jobs over the next five years in aerospace and defense semiconductors, optics, biosciences and energy, with annual salaries ranging from $63,000 to $104,000. Local governments also focus on opening up the high-paying job market. The Greater Phoenix Economic Council assisted 36 companies in expanding or relocating locally this past fiscal year. The average annual salary of 14 of them exceeds US$40,000. This year, GPEC has created 4,000 jobs, of which more than 1,300 positions have an average annual salary of approximately $65,000. For example, California-based Silicon Valley Bank has opened a branch in Tempe and is expected to employ 250 employees with an average annual salary of $88,000. As of March, the state had regained about a quarter of the jobs lost during the recession. "While attracting high-wage jobs is difficult, it's not impossible," the governor said, as Arizona must compete with neighboring states like Texas and Utah. "Our recent policies have had some results and are definitely helping," said Barry Bloom, CEO of the Greater Phoenix Economic Council. "We will continue to work on this."