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

Number of EI beneficiaries waning

As the economy has recovered and benefits have run out, the number of EI beneficiaries has come down, but remains elevated

Restaurant sales improve but still weak

Restaurant and bar sales in Alberta stood $789 million (+11%) higher over the first eleven months in 2021 compared to the same period in 2020

Bank of Canada tees up March rate increase

Investors, consumers, economists and business owners are wondering when—and how high—the Bank of Canada will raise interest rates to help cool inflation

Healthy gains continue for wholesale trade

Alberta hit a new peak for wholesale trade as seasonally adjusted revenues climbed higher for the fourth consecutive month to reach $8.3 billion in November

Retail sales growth in Alberta strong but uneven

The overall situation was much improved compared to a year earlier with unadjusted retail sales in Alberta $717 million higher than in November 2020

Predicting the big economic stories of 2022 (part 2 of 2)

Today's Owl picks up where yesterday's Owl left off and examines two more economic stories to watch in 2022

Predicting the big economic stories of 2022 (part 1)

Todd Hirsch and Frances Donald explore the top economic stories to watch in 2022 in part one of a two-part series

2021 ends with inflation still running hot

Prices remained elevated as Alberta’s Consumer Price Index soared 4.8% in December, on a year-over-year basis

Alberta housing starts highest in seven years

Annual housing starts in Alberta last year were 33% higher than in 2020 and 17% higher than in 2019

Manufacturing activity in Alberta at a new high

Sales in 11 of the 21 sub-sectors increased, with refined petroleum products (+10%) driving over half the total monthly increase

Bouncing around

The latest data from Statistics Canada suggest business conditions in Calgary and Edmonton have bounced back after dipping the week after Christmas

Oil production in Alberta remains elevated

Alberta’s oil output in November stood at 115 million barrels (3.8 million barrels per day), close to the record set the previous month

Alberta’s exports continue to fire on almost all cylinders

After taking a staggering blow in May 2020, Alberta’s international merchandise exports recovered swiftly and have more than doubled in value

A moving target

Alberta’s labour market in 2021 looked different than it did back in 2014 at the tail end of the last boom

Things have changed

The improvement in labour market conditions we saw in 2021 should continue in 2022 and increase the opportunities for workers to find good jobs in Alberta

Alberta’s labour market finishes the year on a good note

Seasonally adjusted employment in Alberta ticked up by 0.5% in December and stood 0.9% above its pre-pandemic level set in February 2020

Building permits rose in November

The seasonally adjusted value of building permits issued in Alberta jumped 21% and drove over 30% of the overall increase in Canada in November

Up, down or sideways? Oil prices in 2022

From the Iran nuclear talks to Omicron to the weather, the factors affecting the price of oil in 2022 are as broad and unpredictable as ever

ATB's Economic Outlook

Read our most recent growth forecast.

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