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

Oil and gas drive record export value

The value of merchandise exports out of Alberta rose by $37.5 billion over the first half of the year

Oil production in Alberta sets new record

Daily oil production averaged 3.6 million barrels per day over the first six months of the year

Crop prices grew again in June

Wheat, canola and barely—Alberta’s three largest crops—continued to fetch record prices

COVID hangover

Employment in Alberta was 4% higher in July 2022 than in February 2020 before the COVID-19 pandemic was declared. Some sectors, however, still haven’t caught up

Employment growth stalled in July

Employment in Alberta was virtually the same, growing by just 300 compared to June

Electronic shopping down from pandemic peak

As a share of total retail sales, e-commerce revenue peaked in April 2020 at 11% and has since pulled back to about 5%

Housing starts cooler but not cold in June

Although 16% lower than the month before, the construction of new homes in Alberta in June remained 38% higher than the five-year average

Inflation jumped in June

The national inflation rate hit 8.1% and is likely to stay at or near this level for several more months

Wholesale activity up again in May

Revenue for wholesale traders in Alberta ticked up for the third consecutive month as seasonally adjusted sales grew $111 million

Alberta expected to grow by two million by 2046

The average age of an Albertan will go from 39.0 to 41.7 with one in five Albertans 65 or older by 2046

No slowing down for Alberta’s manufacturing sector

Higher prices have helped push up manufacturing sales in Alberta

Bank of Canada aims 100-basis-point increase at inflation

The Bank of Canada announced this morning that it is raising its trendsetting policy interest rate from 1.5% to 2.5%

Labour market tightened even more in June

While not a record low for the province, Alberta’s seasonally-adjusted unemployment rate fell from 5.3% in May to 4.9% in June

Energy companies top list of Alberta’s largest businesses

Alberta leads all provinces with 2.77 head offices per 100,000 people compared to 2.45 in Ontario and 1.96 in BC

Building permit value in Alberta riding the inflation wave

After adjusting for cost changes, year-to-date construction intentions were down 10.6%

Now hiring

Bank of Canada survey shows more businesses are reporting labour shortages

Happy Fourth of July to our American cousins

It’s Independence Day in the US, so today’s Owl highlights some interesting facts about Alberta and the United States

Fun facts about Canada’s economy

The number one ingredient of a successful Canada Day celebration is a handy set of facts about the national economy you can share with friends, family and strangers!

ATB's Economic Outlook

Read our most recent growth forecast.

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