Insights

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Our economics team examines the latest statistics on employment, trade, consumer spending, the energy industry and other economic drivers to provide insight into what is happening in Alberta and where our economy is heading.

Economics News

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Recent Owls

Unemployment rate in Alberta unchanged in November

Alberta’s unemployment rate stayed at 7.6% with a rise in the number of Albertans participating in the labour force offsetting the number of new jobs

Construction intentions still stronger than last year

Year-to-date permit value in October was above where things stood at the same point last year in every province except Newfoundland and Labrador

Oil and gas capital not flowing like it was

Oil and gas capital spending in Canada over the first three quarters of 2021 was 32% ($8.25 billion) below the same nine months in 2019

Alberta oil output breaks another record

Crude oil production in Alberta reached its highest level on record in October at 119 million barrels

Businesses concerned about rising costs and supply chain problems

Almost half of Alberta businesses cite the rising cost of inputs as an obstacle heading into 2022

Wages waxed in September

Average weekly earnings for all employees in Alberta edged up by 1.2% in September and were up by 3.1% compared to a year earlier

Moving ahead: Alberta’s economy in 2022

ATB’s forecast pegs Alberta’s GDP growth in 2021 at 6.3% followed by 4.0% in 2022 and 2.5% in 2023

Opening the door to opportunity

A new report prepared by MNP in partnership with ATB Financial provides a baseline understanding of how Indigenous Peoples in Alberta contribute to the wider economy

Restaurant and bar sales stumbled in September

After finally rising above their pre-pandemic level in August, restaurant and bar sales in Alberta fell below it again in September

Business conditions improved as fourth wave weakened

The latest data from Statistics Canada show that business conditions in Calgary and Edmonton have improved since the peak of the fourth wave

Inflation spurs retail sales in September

After two months of decline, seasonally adjusted retail sales in Alberta posted a 1.7% ($120.7 million) increase in September

The Bank of Canada’s inflation forecast

The rise in inflation anticipated by the Bank will be “transitory,” but it won’t be painless or short-lived

Inflation in Alberta above 4% for third month in a row

Prices in Alberta increased in 6 of the 8 major components of the CPI

Wholesale trade edged up in September

After rising by 1.0% in August, wholesale revenue in Alberta posted a 1.2% gain in September to reach $7.4 billion

Manufacturing moving in wrong direction

Monthly sales in Alberta went from $7.1 billion in August to $6.9 billion in September for a decline of 2.9%

The (slightly) shifting sand of GDP estimates

The recession of 2019 is back. The new set of GDP figures released yesterday show that Alberta’s economy contracted by 0.1% in 2019

Crop and livestock prices riding high

Production shortfalls due to drought in Alberta and other places combined with robust global demand have been pushing up crop and livestock prices

Goods-producing sector employment fell in October

Employment was down by over 2.9% in the natural resources* sector and by 6.5% in the primary agriculture sector

ATB's Economic Outlook

Read our most recent growth forecast.

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