Insights

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.

Economics News

Subscribe to get a brief daily snapshot of what’s happening in Alberta’s economy

Wages waxed in September

Average weekly earnings for all employees in Alberta edged up by 1.2% in September and were up by 3.1% compared to a year earlier

Moving ahead: Alberta’s economy in 2022

ATB’s forecast pegs Alberta’s GDP growth in 2021 at 6.3% followed by 4.0% in 2022 and 2.5% in 2023

Opening the door to opportunity

A new report prepared by MNP in partnership with ATB Financial provides a baseline understanding of how Indigenous Peoples in Alberta contribute to the wider economy

Restaurant and bar sales stumbled in September

After finally rising above their pre-pandemic level in August, restaurant and bar sales in Alberta fell below it again in September

Business conditions improved as fourth wave weakened

The latest data from Statistics Canada show that business conditions in Calgary and Edmonton have improved since the peak of the fourth wave

Inflation spurs retail sales in September

After two months of decline, seasonally adjusted retail sales in Alberta posted a 1.7% ($120.7 million) increase in September

The Bank of Canada’s inflation forecast

The rise in inflation anticipated by the Bank will be “transitory,” but it won’t be painless or short-lived

Inflation in Alberta above 4% for third month in a row

Prices in Alberta increased in 6 of the 8 major components of the CPI

Wholesale trade edged up in September

After rising by 1.0% in August, wholesale revenue in Alberta posted a 1.2% gain in September to reach $7.4 billion

Manufacturing moving in wrong direction

Monthly sales in Alberta went from $7.1 billion in August to $6.9 billion in September for a decline of 2.9%

The (slightly) shifting sand of GDP estimates

The recession of 2019 is back. The new set of GDP figures released yesterday show that Alberta’s economy contracted by 0.1% in 2019

Crop and livestock prices riding high

Production shortfalls due to drought in Alberta and other places combined with robust global demand have been pushing up crop and livestock prices

Goods-producing sector employment fell in October

Employment was down by over 2.9% in the natural resources* sector and by 6.5% in the primary agriculture sector

Fewer job seekers lowers unemployment rate in Alberta

A 4.3% drop in part-time employment pulled down total employment in Alberta by 0.4% in October

Food prices in Alberta

The average price of food purchased from stores in Alberta increased by 9.3% between January 2019 and September 2021

Average earnings of employees by industry

Seven out of the 20 main industrial sectors saw earnings growth of more than 10% between January 2019 and August 2021

Mapping the recovery by industry

As of August, the real GDP of Canada's oil and gas sector was still well behind where it was before the pandemic

Inflation is winning the battle with earnings

As of this August, average earnings in Alberta were about 6.6% higher than they were at the start of 2019 while average prices were about 7.5% higher

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