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Insights
The Owl: Focused on Alberta’s Economy
Retail sales, the unemployment rate, population growth, inflation, international trade—these are just a few of the economic trends the team makes sense of in The Owl.
Economics News
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The ripple effects of lower oil production and investment
The anticipated reduction in oil and gas production and investment will be dramatic and will lead to significant drops in GDP and total number of jobs in the total economy
Less bad is the new good
Every province recorded an increase in employment in June, but not nearly enough to make up for the jobs lost as a result of the pandemic and oil price crash.
Jobs rise but unemployment stays high
Despite the improvement on the employment side of the equation, the rise in jobs did not keep up with demand.
Dour forecast for house prices in Calgary and Edmonton
The Canadian Mortgage and Housing Corporation is forecasting major declines in the average resale price of homes in both Calgary and Edmonton
Canadian consumers cautious
Only 13 per cent of consumers have not changed their shopping habits since the outbreak of COVID-19
Businesses see tough year ahead
The negative effects of the pandemic and oil price crash are expected to linger with 63 per cent of the firms surveyed anticipating slower sales growth over the next 12 months
COVID-19 cases surge south of the border
The number of new cases reported in the U.S. hit 54,357 on July 1, surpassing the previous peak of 43,438 set on April 6
Alberta exports take another hit in May
Exports to our largest trading partner—the United States—were down 61 per cent on a year-over-year basis
Building permits down again in May
The seasonally adjusted value of building permits issued by Alberta municipalities fell by 9 per cent in May compared to April
Happy Canada Day!
In honour of our country’s 153rd birthday, today’s Owl looks at how Canada’s economy stacks up against others around the world.
Canadian exporters anxious
The overall impact of the pandemic on exporters has been negative, with 73 per cent indicating that it has hurt sales
Job losses not contained to specific subsectors
One of the handful of subsectors that did manage to add jobs was the electronic shopping and mail-order subsector, albeit only about 450 positions