ATB Virtual Assistant
The ATB Virtual Assistant doesn't support landscape mode. Please tilt your device vertically to portrait mode.

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

Subscribe and get a quick daily snapshot of what’s happening in Alberta’s economy

Business closures spiked during lockdown

As the pandemic’s grip on the economy tightened in March and April, fewer new businesses opened and more existing businesses closed

Are we there yet? No, but job numbers improved in July

Alberta has made up just over half of the jobs it lost between February and April

Exports improved in June

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

Energy production down during pandemic

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

Alberta businesses still on wobbly legs

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.

Catching up to 2019

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

Manufacturing sales started growing again in May

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

Hearing from women in business

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 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

Need help?

Our Client Care team will be happy to assist.