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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.
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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