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.
As the pandemic’s grip on the economy tightened in March and April, fewer new businesses opened and more existing businesses closed
Alberta has made up just over half of the jobs it lost between February and April
Oil prices will, as always, be a key factor going forward, but so too will be the pace of the economic recovery in the U.S. and the other markets for our exports
From manufacturing and transporting products to operating stores and offices to international travel and busing kids to school, economic activity uses a lot of energy
As of July, the CFIB Business Barometer reading for Alberta was 58.1 compared to a low of 26.2 in the second half of March.
However long it takes to get back to where things were in 2019, the growth that would have occurred over that period has been lost
Seasonally adjusted shipments from Alberta’s oil refineries edged up in May by 0.3 per cent, but were 63 per cent ($1 billion) below February’s level
The portion of small and medium Alberta businesses owned entirely by men in 2017 was 43 per cent compared to 12 per cent for women.
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
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.
Despite the improvement on the employment side of the equation, the rise in jobs did not keep up with demand.
The Canadian Mortgage and Housing Corporation is forecasting major declines in the average resale price of homes in both Calgary and Edmonton