financial situations in each province did you ever wonder which province would be best to start off...
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Financial Situations in Each Province
Did you ever wonder which province would be best to start off a new life
financially?
Introduction
• Compares financial related data to time– Individual and family income, employment
• Compares province to province– From Newfoundland to British Columbia
Individual Income
• To find out which province would have the highest income for an individual in the future
• Compares average and median income with time
• Try to find trends and relationships for prediction and analysis
Average Earni ng Annual l y
37, 900 37, 300
35, 200 35, 100
36, 900
36, 90037, 500
34, 400 36, 70035, 800
y = - 240x + 38020R2 = 0. 8
y = 520x + 33880R2 = 0. 9098
20, 000
22, 000
24, 000
26, 000
28, 000
30, 000
32, 000
34, 000
36, 000
38, 000
40, 000
2000 2001 2002 2003 2004Year
Provinces
Newf oundl and andLabrador
Pr i nce EdwardI sl and
Nova Scot i a
New Brunswi ck
Quebec
Ontar i o
Mani toba
Saskatchewan
Al berta
Br i t i sh Col umbi a
Li near(Ontar i o)Li near(Al berta)
•The two top provinces with the highest average income is Ontario and Alberta
•Alberta is closing the gap from $3,500 to $200 from 2000 to 2004
•Ontario has a negative slope of $240 per year while Alberta has a positive slope of $520
Average Earni ng Annual l y
1. 99% 2. 51%2. 46%
1. 32%
-5. 00%
-4. 00%
-3. 00%
-2. 00%
-1. 00%
0. 00%
1. 00%
2. 00%
3. 00%
New PEI NS NB Que Ont Man Sas Al b BC
Provi nces
%gro
wth 2001
200220032004
•This graph shows the increase or decrease rate from 2000 to 2004 for each province
•Alberta is the only province that has an increase rate for 2003 and 2004
Medi an Earni ng Annual l y
29, 000 28, 400 28, 60027, 700
27, 00026, 80026, 400 26, 600 26, 500
27, 700
y = - 470x + 29550
R2 = 0. 8794 y = 230x + 26110
R2 = 0. 4809
15, 000
17, 000
19, 000
21, 000
23, 000
25, 000
27, 000
29, 000
31, 000
2000 2001 2002 2003 2004
Year
Provinces
Newf oundl and andLabradorPr i nce EdwardI sl andNova Scot i a
New Brunswi ck
Quebec
Ontar i o
Mani toba
Saskatchewan
Al berta
Br i t i sh Col umbi a
Li near (Ontar i o)
Li near (Al berta)•The median earning for Alberta has surpassed the median earning for Ontario in 2004
•The difference was $2,600 in 2000 and now Alberta has a higher median earning than Ontario by $700
•Ontario has a negative slope of $470 per year while Alberta has a positive slope of $230 per year
Medi an Earni ng Annual l y
-3. 15%
-0. 38%
-2. 53%
0. 42% 0. 44%
4. 53%
-9. 00%
-7. 00%
-5. 00%
-3. 00%
-1. 00%
1. 00%
3. 00%
5. 00%
7. 00%
9. 00%
New PEI NS NB Que Ont Man Sas Al b BC
provi nces
%gro
wth
2001200220032004
•Alberta has the highest increase rate in 2004 and a small decrease rate in 2002 and 2003
•Only Quebec and Manitoba had a small increase in 2004
•Ontario had a decrease rate in both 2003 and 2004
Individual Income
• Ontario and Alberta are the top two provinces with the highest average and median income
• Average and median income for Ontario are decreasing as years goes by while Alberta is increasing
• Alberta has surpassed Ontario in median income in 2004 and the trends also shows that Alberta will surpass Ontario in average income in the future
Family income
• To find out which province would have the highest income for a family in the future
• Compares median income and per capita income with time
• Per capita income is the total income made by a family and then divided by the number of members in that family
%growth ( per capi ta i ncome i n a f ami l y)
3. 13% 2. 69% 3. 10%
5. 15%5. 05%
7. 12%
0. 00%
2. 00%
4. 00%
6. 00%
8. 00%
10. 00%
12. 00%
New PEI NS NB QUE ONT MAN SAS ALB BCProvi nces
% Gr
owth
2001200220032004
•Shows increase rate for per capita income
•Saskatchewan has the highest increase in 2003 and Alberta has the highest increase in 2004
•Saskatchewan has a total increase of 8.18% in 2003 and 2004 while Manitoba has 9.81% and British Columbia has 8.25%
Per capi ta i ncome
26, 00025, 400
26, 000 26, 700
27, 000
28, 600
15, 000
17, 000
19, 000
21, 000
23, 000
25, 000
27, 000
29, 000
New PEI NS NB QUE ONT MAN SAS ALB BC
Provi nce
$ (p
er c
apit
a) 20002001200220032004
•Alberta has the highest per capita income from 2001 to 2004 and it’s higher than Ontario by $1,600
•The difference between Ontario and Alberta is increasing ($600 in 2002, $700 in 2003 and $1,600 in 2004)
%growth (medi an fami l y i ncome)
1. 52%2. 11%2. 88%3. 70%
3. 00%2. 90%4. 29%
5. 40%
0. 00%
1. 00%
2. 00%
3. 00%
4. 00%
5. 00%
6. 00%
7. 00%
8. 00%
9. 00%
New PEI NS NB QUE ONT MAN SAS ALB BCProvi nces
% gr
owth
2001
2002
2003
2004
•In 2003, Newfoundland and Nova Scotia had the highest increase rate but the increase rate seems to be decreasing over time and the increase rate for Nova Scotia for the two years are about the same, so there wouldn’t be much difference in the future
•In 2004, Alberta and British Columbia had the highest increase rate and also Alberta has a higher increase rate in 2003
Fami l y Medi an I ncome
59, 600 61, 700
60, 500 63, 000
62, 500
66, 400
35, 000
40, 000
45, 000
50, 000
55, 000
60, 000
65, 000
70, 000
New PEI NS NB QUE ONT MAN SAS ALB BCProvi nce
$ (f
am m
ed i
nc)
20002001200220032004
•Alberta has the highest median family income from 2001 to 2004
•The difference is stretching from $1,100 in 2002 to $2,500 in 2003 to $3,900 in 2004
•The rest of the provinces are increasing slowly
Family Income
• The top two median income and per capita income are Ontario and Alberta
• British Columbia has the second highest increase rate and Alberta has the highest increase rate
• British Columbia might be able to have a higher family income in the future
Employment
• To find the provinces with the highest employment rate
• Compares employment increase in percentage with time
• Compares employment with population
• Only used some chosen provinces because of its higher income and employment rate
New Brunswi ck
R2 = 0. 9891
y = 0. 0094x - 18. 756
- 1. 00%
0. 00%
1. 00%
2. 00%
3. 00%
4. 00%
2000 2001 2002 2003 2004 2005
year
%gro
wth
(ear
ners
)Bri t i sh Col umbi a
R2 = 0. 9951
y = 0. 007x - 13. 971
- 1. 00%
0. 00%
1. 00%
2. 00%
3. 00%
4. 00%
2000 2001 2002 2003 2004 2005
year
%gro
wth
(ear
ners
)
• These are the only two graphs that has a high r2. Newfoundland had a r2 of 0.45 but since I’m only interested in provinces with the highest income, I didn’t add it to the PowerPoint. All the rest of the provinces has a r2 of less than 0.1 so the data is everywhere
• Since both graphs has a high r2, it means the line of best fit represents the data well. So for New Brunswick, the % growth rate for employment would increase by around 0.009% every year and for British Columbia, it would increase around 0.007%
• I made all the scale for y-axis the same so I can see the steepness for each line of best fit. The steeper it is, the faster the % growth rate would increase
Empl oyment rate
60. 78%
58. 42%
60. 77%
58. 27% 61. 81%
59. 48%
49. 00%
51. 00%
53. 00%
55. 00%
57. 00%
59. 00%
61. 00%
63. 00%
New PEI NS NB Que Ont Man Sas Al b BC
Provi nce
Empl
oyme
nt r
ate
20002001200220032004
•Employment rate is the whole population of a province divided by the number of earners
•Alberta has the highest employment rate with 61.81% in 2004 followed by PEI with 59.48%
•The employment rate for every province is increasing and some are levelling out from 2003 to 2004 (Manitoba, Saskatchewan, Newfoundland)
Employment
• Alberta has the highest employment rate with 61.81% in 2004 and seems like it’s still rising
• PEI has the second highest employment rate with 59.48% in 2004
• The % growth rate for most provinces are everywhere (not enough data) and the only two provinces with a r2 close to 1 are New Brunswick and British Columbia, and New Brunswick seems to be increasing faster
CPI (Consumer Price Index)
• Divided into eight major components (“food”, “shelter”, “household operations & furnishings”, “clothing & footwear”, “transportation”, “health & personal care,” “recreation, education & reading”, and "alcoholic beverages & tobacco products“)
• See which province has the lowest CPI and the trend for i
CPI (Consumer Price Index)
• Divided into eight major components (“food”, “shelter”, “household operations & furnishings”, “clothing & footwear”, “transportation”, “health & personal care,” “recreation, education & reading”, and "alcoholic beverages & tobacco products“)
• The lower the CPI, the cheaper the items in each components are
• See which province has the lowest CPI and the trend for it
Mani toba
R2 = 0. 9924
y = 2. 5x - 4881. 8
116
118
120
122
124
126
128
130
132
1999 2000 2001 2002 2003 2004 2005 2006
year
CPI
Bri ti sh Col umbi a
R2 = 0. 9986
y = 2. 4371x - 4761. 2
112
114
116
118
120
122
124
126
1999 2000 2001 2002 2003 2004 2005 2006year
CPI
•Two provinces with the lowest slope (increase in CPI) are British Columbia and Manitoba
•All the r2 for each provinces are close to 1 so the line of best fit would pretty accurately represents the data
•The CPI for Manitoba would increase 2.5 every year and around 2.4 for British Columbia
Conclusion
• Alberta has the highest median income and is increasing the fastest for average and median income for an individual
• Alberta has the highest median family income and per capita income
• It also has the highest employment rate• Alberta would be the best province to live in
financially since because of it’s high income and fast increasing rates
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