The Owl: Focused on Alberta’s Economy
Retail sales, unemployment rate, population growth, inflation, international trade—these are just a few of the economic trends the team makes sense of in The Owl.
The energy sector stands out in terms of the average compensation it offers
Oil prices remain about 30 per cent below pre-pandemic levels. This will weigh particularly heavily on the economic recovery here in Alberta.
The energy sector accounted for 1.6 per cent of all jobs in Canada last year or over 300,000 positions
If you’ve been following the news lately, you’ve no doubt come across stories outlining some of the challenges facing Canada’s energy sector
While it is good to see sales going up, five problems continue to dog the sector
Sales in the province over the first eight months of the year were 6.4 per cent lower than over the same period last year, leaving a $3.4 billion hole to fill
Firms reported that their sales prospects are limited by weak demand and precautionary health guidelines
With the pandemic and other headwinds still in play, the pace at which we were heading back to pre-pandemic levels slowed
While more than double the amount in April when the lockdown was at its height, sales were still 6.3 per cent below the bar set in August 2019
The pandemic has highlighted a number of large divides in our society and economy
Alberta businesses used an estimated 43 million individual disinfectant wipes in August
Overall, the number of jobs in the province was down by 125,900 (-5 per cent) in September compared to February