Canadian Dream is over! Ontario Residents Are Fleeing The Province In Record Numbers
444Ontario Residents Are Fleeing The Province In Record Numbers!!
Better Dwelling - SEPTEMBER 29, 2022
Ontario’s astronomical cost of living has residents fleeing by the tens of thousands. Statistics Canada (Stat Can) data shows interprovincial migration soar in Q2 2022. Ontario’s talent is fleeing to more affordable regions like Alberta and Nova Scotia. It’s so bad, a Big Six bank warned investors that immigration is having a harder time filling the gap. Ontario has never seen people leave at this scale, as the province fails to compete for young adults.
Ontario Residents Are Leaving By The Tens of Thousands
Ontario residents are suddenly in a rush to move. The province saw over 49,000 people leave for another province in Q2 2022. The outflow was 77.6% higher than the previous quarter and 45.9% higher than the same quarter last year. Ontario has never seen this many people rush for the door in a single quarter.
The trend is reaching emergency levels. Nearly 125,000 Ontario residents left in the year-ending Q2 2022, up 54.7% from a year before. Strong and rising outflows are indicative of a lack of perceived opportunity. Expensive housing in one of North America’s worst paying tech hubs, seemed like such a good pitch.
Ontario Has Never Seen People Leave At This Rate Before
Rising outflows are a warning, often dismissed as less important than net-interprovincial flows. This is the balance of inflows from other provinces, minus the outflow. Positive numbers are good— they show more people arriving in a province than leaving. People aren’t just attracted to the province, they’re also retained.
Negative numbers are bad news, since that means more people are leaving than arriving in a province. It can be patched over with immigration for a temporary fix, but it’s a long-term issue brewing. Immigrants eventually see the same lack of opportunity that locals do, and move as well.
Ontario’s net interprovincial flows have never been this deeply negative. In Q2 2022, the net outflow was 21,000 people, a new record limboing under the early 80s recession. The annual net flow for the quarter was an outflow of over 47,200 people. That means 47,200 more people left for other provinces than arrived in the 12-month period. Ontario has never seen it this bad, and it’s accelerating.