Read our most recent growth forecast.
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.
At $841 million, Alberta’s exports to Mexico were down in 2020 compared to 2019 by 23 per cent.
Alberta’s economy shrank 8.2 per cent in 2020
Alberta is home to the largest number of natural resource jobs in the country
The number of employee positions was, however, down by 8.5 per cent (169,917) compared to 12 months earlier
Household savings during and after the pandemic
Clothing stores, however, continued to struggle with year-over-year sales down by 26.8 per cent
Bars saw their (unadjusted) sales increase by 238 per cent in February but sales were still down by 62 per cent compared to February 2020
The five billion hours spent volunteering in 2018 are equal to 2,622,296 full-time year-round jobs
Successfully adapting to unwanted change is inextricably linked to our role as community members and community builders
As of February 2021 new vehicle sales in Alberta were roughly back to where they were 12 months earlier just before the pandemic was declared
The Bank has revised the timeline for when a rate increase might occur from 2023 to “some time in the second half of 2022”
The federal deficit for the 2020/21 fiscal year is projected to come in at $354.2 billion followed by deficits of $154.7 billion this fiscal and $59.7 billion in 2022/23
Encouragingly, after large drops in the spring, monthly gains were posted in June through December, albeit not enough to make up for the ground lost earlier in the year
Shipments from Alberta’s factory floors rose for the sixth month in a row in February. Compared to January, seasonally adjusted manufacturing sales rose by 1.9 per cent to reach $6.1 billion
WTI has averaged almost US$62 per barrel since the start of March while the Western Canadian Select benchmark has averaged just under US$52 over the same period
Concern has been raised about a growing segment of western society referred to as the “precariat”
The hospitality sector still has the biggest pandemic-related employment hole to fill
The provincial unemployment rate went from 9.9 per cent in February to 9.1 per cent in March