Stat Chat

Each week our policy team will bring you an update on a key economic indicator along with a quick overview of how it may impact the business community. 

Calgary’s Unemployment Rate Decreases Due to Shrinking Participation Rate

Calgary

Calgary’s unemployment rate improved slightly between October and November this year, decreasing from 7.2 per cent to 6.9 per cent. While it is an improvement month-over-month, it comes at the expense of a shrinking labour force participation rate. Between October and November approximately 1,900 people actively stopped looking for work which contributed to an artificial decrease in the unemployment rate.

Alberta

Shrinking labour force participation rates were also a trend provincially, where 5,300 people actively stopped looking for work. However, the unemployment rate still increased from 6.7 per cent t0 7.2 per cent. Wholesale and retail trade experienced the brunt of the burden with approximately 5,600 layoffs. Meanwhile, professional, scientific, and technical services experienced employment growth of approximately 2,800 new jobs.

Canada

At the national level, the unemployment rate experienced a slight increase, rising to 5.9 per cent. Compared to November 2018, there are 293,000 more jobs available, which can be attributed to a rise in full-time work availability. Employment is down across the Prairies, with Saskatchewan and Manitoba’s unemployment rates increasing to 5.8 per cent and 5.6 per cent respectively. This trend continues across Canada, where Quebec’s unemployment rate jumped to 5.6 per cent, British Columbia’s to 5.0 per cent, and Ontario’s to 5.6 per cent.

Why this matters: Labour force participation and unemployment rates signal the overall health of the economy. If workers are unemployed or discouraged from looking for work, families are immediately impacted through loss of wages and loss of purchasing power. This loss of purchasing power affects the economy as a whole, as families purchase less goods and services.

Previous stats

Third consecutive quarter of real GDP growth reported for Canada

Gross Domestic Product (GDP) in Canada increased by 0.3 per cent in the last quarter, following a 0.9 per cent increase in the second quarter of 2019. This marks a third consecutive quarter of real GDP growth for Canada. According to the latest report from Statistics Canada, GDP increased 1.3 per cent year-over-year, falling behind a growth rate of 1.9 per cent in the US.

The primary driver of growth is attributed to a 2.6 per cent increase to business investments, the largest increase since the fourth quarter of 2017. In particular, investments to non-residential buildings (1.4 per cent), engineering structures (3.1 per cent), machinery and equipment (1.7 per cent), and intellectual property products (1.5 per cent) contributed to the growth of Canada’s economy. Some of this growth was offset by a 0.4 per cent decrease in exports, led by a 15.2 per cent decrease in non-metallic minerals and a 4.5 per cent decrease in farm and fishing products.

Household spending increased by 0.4 per cent, following a 0.1 per cent increase in the previous quarter. Overall, Canadian households are experiencing a moderate financial upswing with disposable income rising 0.9 percent and the household saving rate increasing to 3.2 per cent.

Why GDP Matters: GDP provides us with a comparative measure of the worth of our country and industry to global industries and other countries. GDP indicators allow us to monitor what sectors of the economy are flourishing and what sectors are experiencing adversities. Studying the quarterly change enables us to follow a general trend of the economic indicators that contribute to the growth or decline of our economy.

 

Slight inflation rate increases reported across Alberta in October 2019

In Canada, prices for goods and services rose 1.9 per cent over the last 12 months, a rate that remains unchanged since August, according to Statistics Canada. The stability can be attributed to a counterbalance effect between higher food and shelter costs versus lower gasoline costs. Canadians paid 6.7 per cent less for gasoline in October 2019, following at 10 per cent decline in September. Meanwhile, the cost of food rose by 3.7 per cent year over year.

In Alberta, the inflation rate was 1.6 per cent over the past 12 months, which is an increase from 1.3 per cent in September but remains below the national average.

Calgary’s headline inflation rate rose from 1.1 per cent year-over-year in September to 1.4 per cent year-over-year in October 2019 but remains below the provincial rate. According to the City of Calgary, the two primary contributors to this rate were rising costs of food, shelter, and transportation.

Edmonton’s headline inflation rate also rose to match the provincial rate of 1.6 per cent in October 2019, up from 1.4 per cent in September. According to the City of Edmonton, higher water, fuel, electricity, and shelter costs contributed to this increase.

Year-over-year inflation rates at the national, provincial, and municipal levels are all within the Bank of Canada’s target range of between one and three per cent.

Why inflation matters: The Consumer Price Index (CPI) is the measurement of the average price of a selected group of goods and services that most people pay for, such as food, shelter, clothing, gas and more. The change in this index price is referred to as inflation and generally increases over time for all goods and services, reducing the ‘purchasing power’ of each dollar. Inflation that is within the Bank of Canada’s target range reduces uncertainty, by ensuring prices don’t spike radically. A stable inflation rate allows us to more easily predict our cost of living.

Data Source: Statistics Canada. Table  18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted

Manufacturing sales continue to slow in Canada and Alberta

September marked the fourth straight month of shrinking sales in Canada’s manufacturing sectors, according to the latest report from Statistics Canada. Sales in the 21 industries monitored dipped by 0.2 per cent to $57.4 billion in September 2019, down from $57.5 billion in August 2019.

In Alberta, manufacturing sales dipped by 3.2 per cent to $6.1 billion, down from $6.3 billion in August 2019. This decrease was primarily due to a decrease in petroleum and coal products by 9.5 per cent. Partial shutdowns at several facilities for maintenance work during the month were a major contributor to this decline.

Why manufacturing sales matter: Manufacturing sales give us an idea of the demand for the products that are produce in Alberta and help us identify the sectors that are actively contributing to the general health of the economy in our province.

Source: Statistics Canada. Table 16-10-0048-01 Manufacturing sales by industry and province, monthly (dollars unless otherwise noted) (x 1,000)

November 12, 2019

National, provincial and local unemployment rates

Calgary

According to Statistics Canada, Calgary’s unemployment rate rose between September and October this year, moving from 7.1 per cent to 7.2 per cent. The City of Calgary estimates that Calgary lost 6,200 jobs between September and October this year, contributing to the rise in unemployment in our city.

Alberta

Employment also shrunk at the provincial level for the same reason. The province saw 11,200 more people looking for work in October, which caused unemployment rate to increase slightly from 6.6 per cent to 6.7 per cent. The province saw a net increase in jobs created in October with nearly 8,000 more jobs available, driven entirely by gains in full-time employment. ATB Financial attributes our province’s stubbornly high unemployment to the barriers of growth in the energy sector and the ripple effects this has had on other sectors.

Canada

The national unemployment rate remained unchanged between September and October at 5.5 per cent. Compared to the same time last year, the country has 443,000 more jobs available. This was driven by improvements in full time work representing a 2.4 per cent increase in employment.

Source: Statistics Canada, Table 14-10-0294-02 and 14-10-0287-01

Why this matters: Unemployment rates and participation in the job market give us an idea of the health of our overall economy. When workers are unemployed or are discouraged from looking for work, families lose wages, and our city loses contributions to the economy as a whole in terms of goods and services. Unemployment also impacts purchasing power, which in turn impacts what people can afford, therefore creating a ripple effect that adversely impacts the entire economy.

November 4, 2019

Canada’s economy grows modestly in August

Gross Domestic Product (GDP) in Canada rose by 0.1 per cent, or just over $3 billion, in August according to the latest report from Statistics Canada, after posting no growth in July. Despite the modest growth, there are some positive trends. After two straight months of declines, goods-producing industries saw a 0.2 per cent increase and service-producing industries were also up by 0.1 per cent. Overall, 14 out of 20 sectors measured saw some gains.

The manufacturing sector was the biggest driver for the growth seen in August, growing by 0.5 percent for the month. This was driven by a 5.9 per cent increase in fabricated metal product manufacturing, and a 5.3 per cent increase in the non-metallic mineral product manufacturing sectors. After finishing the summer with a 3.6 per cent decline in July, the mining, quarrying and oil and gas extraction sector posted a 0.1 per cent growth in August. Oil and gas extraction moved up 0.3 per cent, as growing natural gas extraction compensated for lower crude petroleum extraction.

Why GDP matters: GDP is the most commonly used statistic to measure overall wealth. It allows us to compare the worth of our industries and country to global industries and other countries. GDP by industry provides a pulse check on what sectors of the economy are thriving and which are facing difficulties. Studying month over month changes as they become available allows us to follow the overall trends in GDP.

October 29, 2019

Manufacturing sales slowing in Alberta

After a strong start to the year, with five consecutive months of strong sales and month over month increases between January and May, manufacturing sales in Alberta are now trending in the opposite direction. According to the latest report from Statistics Canada, August marked three straight months of shrinking sales in our manufacturing sectors.

After peaking just short of $7 billion in May 2019, sales across the 21 industries monitored dipped to $6.3 billion in August. Alberta’s decrease was primarily due to shrinking sales in the petroleum and coal sector, and the food manufacturing sector. These two sectors saw a $328 million and $557 million drop in sales, respectively, since May.

Why manufacturing sales matter: Manufacturing sales give us an idea of the demand for the products that are produced in Alberta and help us identify the sectors that are actively contributing to the general health of the economy in our province.

Source: Statistics Canada. Table 16-10-0048-01 Manufacturing sales by industry and province, monthly (dollars unless otherwise noted) (x 1,000)

October 22, 2019

Stable inflation rates reported across Alberta

Calgary’s headline inflation rate was 1.1 per cent over the last 12 months, with prices for all goods and services rising by just over one per cent between September 2018 and 2019, according to Statistics Canada. The year-over-year inflation rate is now within the Bank of Canada’s target rate of one and three percent, after two straight months of remaining below the target rate.
Inflation in the city remains sits below the provincial rate of 1.3 per cent, which is unchanged for the third straight month. Prices in Edmonton rose at a slightly higher rate than the province at 1.4 per cent. While the overall cost of living in Alberta stayed stable, prices for some goods changed sporadically between last September and this year according to ATB Financial.

Prices in Canada rose at 1.9 per cent remaining unchanged from the previous month.

Why inflation matters: Consumer Price Index (CPI) is the measurement of the average price of a selected group of goods and services that most people pay for, such as food, shelter, clothing, gas and more. The change in this index price is referred to as inflation and generally increases over time for all goods and services, reducing the ‘purchasing power’ of each dollar. Inflation that is within the Bank of Canada’s target range reduces uncertainty, by ensuring prices don’t spike radically. A stable inflation rate allows us to more easily predict our cost of living.

Data Source: Statistics Canada. Table 18-10-0004-02: Consumer Price Index, monthly, not seasonally adjusted

 

Wages in Alberta slide for second month in a row

0.7 per cent drop in wages between June and July

Average weekly earnings in Alberta dropped by 0.7 per cent between June and July according to the latest data published by Statistics Canada. This comes immediately after wages dropped by 1.7 per cent the month before. Year-over-year average earnings in the province are up slightly, by 0.5 per cent compared to July last year, however this remains below the rate of inflation for the same time period. All signs pointing towards sluggish economic growth in the province.

The average Albertan continues to earn more than all other provinces at $1,155/week, out earning our counterparts in British Columbia ($994) and Ontario ($1,049). Albertans also earn more than the national average of $1,027. Wages in utilities and transportation and warehousing saw the largest year-over-year gains in wages for our province, increasing by 8.5 per cent and 6.4 per cent respectively. While real estate (-5.7 per cent) along with information and culture (-4.8 per cent) industries saw the largest drops in earnings.

Why this matters: Comparing Average weekly earnings gives us an idea of wage growth, changes in economic composition by industry, the level of experience in industries as well as the province, and the average hours worked per week. In combination with inflation, Average weekly earnings give us an idea of the changes in cost of living for the average Albertan.

Canada’s economy grows for second quarter of 2019.

0.9% increase in Canada’s GDP

Gross Domestic Product (GDP) in Canada rose by 0.1 per cent in each of last two quarters moving up to 0.9 per cent for 2019’s second quarter. According to the latest report from Statistics Canada, year-over-year GDP growth in Canada (3.7 per cent) out paced the growth seen in the United States (two per cent).

A 3.7 per cent rise in exports was the main driver for the overall growth in Canada’s economy. In addition to growth in exports, housing investments (1.4 per cent), national income (1.3 per cent), corporate income (3.7 per cent), and household disposable income (1.3 per cent), all of which saw increases, contributed to growing the national economy.

August 6, 2019

Canada’s economy grows for a third consecutive month

0.2% increase in Canada’s GDP

Gross Domestic Product (GDP) in Canada rose by 0.2 per cent between April and May according to the latest report from Statistics Canada, marking the third consecutive month of growth. This increase was led primarily by improvements in Manufacturing, with 13 out of 20 industrial sectors expanding. Goods-producing industries rose 0.6 per cent, while services-producing industries rose by 0.1 per cent.

The construction sector grew for the fourth time in five months, increasing by 0.9 per cent. While nearly types of construction saw an increase in May, residential construction posted the strongest year over year growth at 2.2 per cent. Despite the overall economic growth, the mining, quarrying and oil and gas extraction sector contracted 0.8 per cent following a significant increase last month, and wholesale trade fell by 1.4 per cent after four consecutive gains.

 

 

July 2, 2019 

Canada’s economy grows for second straight month 

0.3% increase in Canada’s GDP

Canada’s Gross Domestic Product (GDP) grew by 0.3 per cent between March and April of 2019 according to the latest report from Statistics Canada. This marks the second consecutive month of increases with the economy growing by 0.5 per cent last month. Mining, quarrying and oil and gas extraction drove the growth with a 4.5 per cent increase. This was primarily due to a 5.5 per cent increase in oil and gas extraction as mandated production cuts in Alberta eased.

Wholesale trade also contributed to the growth, increasing trade by 1.4 per cent for the month. The sector has now seen increases for the fourth consecutive month. The construction sector also saw a 0.2 per cent increase for the month, its third in the last four months as residential construction grows. Despite the overall economic growth the manufacturing and retail sectors slowed with contractions of 0.8 per cent and 0.1 per cent respectively.

 

 

June 4, 2019

Canada’s GDP grows slightly to end first quarter 

0.5% increase in Canada’s GDP 

Canada’s Gross Domestic Product (GDP) grew by 0.5 per cent or roughly $9.7 billion between February and March of 2019, according to the latest report from Statistics Canada. The moderate growth offsets the 0.2 per cent contraction of the economy the month before. The manufacturing sector saw an increase of 0.9 per cent (approximately $1.9 billion).

Mining, quarrying and oil and gas extraction also saw an increase of two per cent in value, the first month of growth after declining for last six consecutive months. This increase was largely caused by a 3.3 per cent increase in oil and gas extraction. Transportation and warehousing, along with finance and insurance also grew.

This largely reflects the trends reported by the Bank of Canada in their Monetary Policy Report released on April 24th that led the Bank to hold their line on the target overnight rate at 1.75 per cent.

In addition to an increase in March, Canada also saw an increase of 0.1 per cent in real GDP for the First Quarter of 2019. The growth comes as a result of an 0.9 per cent increase in national income driven by higher export prices of crude oil and bitumen. Increases in household spending (0.9 per cent) and rebounding investments in the machinery and equipment sector (8.7 per cent) were also contributors to the growth. On the other hand, a one per cent decline in exports and a 1.6 per cent decline in housing investment held back growth for the country. In comparison, real GDP in the United States grew 3.2 per cent.

May 7, 2019

Canada’s GDP Shrinks to start 2019
0.1% drop in Canada’s GDP

Canada’s Gross Domestic Product (GDP) shrunk by 0.1 per cent or $2.8 billion in February compared to January, according to the latest report from Statistics Canada. Mining, quarrying and oil and gas extraction saw a decrease of 1.6 per cent in value (slightly over $2 billion), with all subsectors measured experiencing declines. The subsectors include mineral solids such as metals and coals, liquid minerals such as crude petroleum, and gases. This marks the sixth consecutive month of declines.
The transportation and warehousing industry also saw a drop of 1.6 per cent in February, the largest drop for the industry since June 2011. This is largely caused by a 10.8 per cent decrease in rail transportation. Finance and insurance, along with manufacturing also saw declines for the month.
The latest data reflects the slow growth that led the Bank of Canada to hold the line on its key interest rate late April. On May 30th the Chamber will host A conversation with Bank of Canada’s Senior Deputy Governor, Carolyn A. Wilkins, where you can learn more about Canada’s economic outlooks.

 

April 2, 2019

Canada experiencing slow economic growth.

0.3% growth in Canada’s Gross Domestic Product.

Canada’s economy grew for the first time in three months with an increase (in GDP value) of 0.3 per cent between December 2018 and January 2019. The growth offsets losses faced by our economy in three of the last four months of 2018. While this is the largest monthly growth we’ve seen since May of 2018 there are some expected headwinds in the coming year such as, low oil prices and a slowing housing market.

Part of January’s growth was due to a rise in the construction sector (1.9 per cent). This is the largest growth the sector has seen since July 2013 and comes after the seven straight months of losses for the first time in 30 years. This is only the second month the construction sector in Canada has seen growth since March 2018. The manufacturing sector also grew in January (1.5 per cent) offsetting declines faced in the previous two months. This may change in the coming months following Fiat Chrysler’s announcement that it is planning on eliminating manufacturing jobs in Ontario.

The energy sector continued to see losses, dropping 0.6 per cent in value in January. The sector has now seen declines in four of the last five months. Partially a result of the production cuts announced by the provincial government, Alberta’s economic driver continues to struggle.

March 4, 2019

1.8 per cent growth for Canada’s GDP

Canada’s economy is slowing. As a country, our GDP grew by only 0.1 per cent in the last quarter of 2018, resulting in a growth of only 1.8 per cent for the year. This is down significantly from a three per cent growth in 2017 and is much less than the 2.9 per cent growth in the United States in 2018.

The slow growth is a result of a decrease in non-residential business investment as well as export and import volumes to end the year. Business investment in non-residential structures, machinery and equipment fell 2.9 per cent, the largest drop since the end of 2016.

Exports fell in multiple areas. Some notable products that saw decreases are: energy products (0.6 per cent), forestry products (3.2 per cent), as well as metal and non-metallic mineral products (two per cent) for a total drop of roughly $3.3 billion between the three. The decline in imports were largely caused by a drop-in demand for chemical, plastic and rubber products (4.6 per cent).

 

February 5, 2019

Economy slows in Canada

0.1% drop in Gross Domestic Product

Canada’s economy shrunk by roughly two billion dollars between October and November of 2018 (a drop of 0.1 per cent). This comes one month after the country saw a gain of roughly six billion dollars (an increase of 0.3 per cent).

The loss comes from widespread decline in the manufacturing sector, which was down 0.5 per cent in November. Manufacturing has seen declines in three of the four months between August and November. Petroleum and coal products, which contracted by 2.2 per cent, contributed most to the decline of the sector.

Wholesale trade and oil and gas sectors also contributed to the contraction of the economy, shrinking by 1.1 per cent and 1.6 per cent respectively. The construction sector also fell for the sixth month in a row.

 

Nov. 13, 2018

 Economic Growth in 2017

4.4% – Alberta’s economy led growth among all provinces in 2017 in GDP terms (adjusted for inflation). 
The Gross Domestic Product or GDP, measures the economic activity within a region. GDP is often looked to as a report card as it shows if the economy in growing or shrinking.  

Alberta 

In 2017, the Alberta economy grew faster than any other province, 0.5 percentage points greater than B.C. – the second fastest growing province. This the first overall increase in Alberta’s economy since 2014; the economy declined in 2015 (-3.7%) and 2016 (-4.2%) but remains below the record highs experienced in 2014. 

Canada  

Canada’s economy grew by 3.0% last year, driven by a rise in household spending of 3.6%, the fastest growth Canada has seen since 2010. 

What’s next?  

Canada and Alberta are both expected to see growth slow. Canada’s growth rate is expected to be around 2% in 2018 and 2019, with longer-term growth forecasted to slow to 1.75% – significantly lower than its historical average. The Alberta economy is also expected to see growth edge down around to 2.5% over the next few years. 

Risks to future growth include uncertainty around market access and international trade, lagging business investment and the impact of U.S. tax reforms, along with government costs layered on business. Addressing these risks should be top priority for all levels of governments to support future growth.

 

Economic growth in 2017

4.9% – Alberta’s economy led growth among all provinces in 2017. But risks to future growth remain.

Canada 

Canada’s economy grew by 3.3% last year, which was the highest growth among all G7 countries. The Alberta energy sector was a key contributor to growth with oil and gas extraction topping a record $125 billion in production.

Alberta

Alberta’s economy also experienced a surge in growth. In 2017, the Alberta economy grew faster than any other province, 1 percentage point greater than BC – the second fastest growing province. To put this in context – it is greater than at the end of 2013, but below historic highs of 2014.

What’s next? 

Canada and Alberta are both expected to see growth slow. Canada’s growth rate is expected to be around 2% in 2018 and 2019, with longer-term growth forecasted to slow to 1.75% – significantly lower than its historical average. The Alberta economy is also expected to see growth edge down around to 2.5% over the next few years.

Risks to future growth include uncertainty around market access and international trade, lagging business investment and the impact of U.S. tax reforms, along with government costs layered on business. Addressing these risks should be top priority for all levels of governments to support future growth.

 

 

Economic Growth

0.7%; Canada’s economy grew by 0.7% from April to June, the strongest growth in a year

Canada

The Canadian economy grew by 0.7% during the second quarter of 2018 – the strongest growth rate in a year due to higher household spending and energy exports. Stretching this type of growth over the year would result in 2.9% yearly growth. In comparison, the U.S. economy is on pace to grow 4.2% in 2018.

Alberta

Last year, Alberta’s economy grew by 4.9%, the fastest rate of growth among Canadian provinces. While Alberta’s economy is expected to keep rising, modest growth is expected, closer to 2% by 2020. Uncertainty continues to impact Alberta’s economic outlook, including global trade disputes, NAFTA, and delays to the Trans Mountain pipeline expansion project.

Calgary

After two years of decline, Calgary economy grew by 3.1% last year. The economy is expected to continue growing, albeit at a slower 2.5% in 2018 and 2% in 2019. While Calgary’s recession appears to be over, many businesses may still be struggling as costs outpace revenue growth, and many workers are still looking for work as Calgary boasts the highest unemployment rate among Canada’s major cities.

Public sector growing in Alberta

Since 2014, public-sector jobs across all three levels of government in Alberta have increased by 21% – faster than any other province.

In the prior period from 2009 to 2014, Alberta’s public sector grew by less than 1%. But over the past few years, the number of public sector jobs has grown rapidly, increasing by 21% since June 2014. To put that into perspective, BC has the second highest public-sector growth over this time period with just under 10% growth.

 

 

 

 

Statistics Canada Table 14-10-0288-01 

Alberta retail sales: Approaching $7 billion, an all-time high 

Retail sales are fueling Alberta’s economic recovery, reaching record highs in 2018. While June saw a slight decline from May’s record setting levels, June’s number’s show strong improvements since the beginning of the year and a 2% increase from the same month last year. Albertans continue to outspend all provincial peers with per capita retail sales in Alberta about $225 higher than the national average.

It’s important to note prices are also increasing in Alberta, which could contribute to the higher value of retails sales. Furthermore, some retailers may still be struggling as their costs also continue to rise, without the revenue to match.

That said, Albertans continue to spend greater amounts at local businesses – another indicator that suggests Alberta’s economy is emerging from the downturn.

Source: Statistics Canada Table 20-10-0008-01; June of each year.

October 8, 2019

Canada’s Trade Deficit Narrows to $955 million

Canada’s international exports rose by 1.8 per cent in August driven by exports of energy products and aircrafts according to the latest Statistics Canada report. Imports were also up by one per cent due to increased imports of gold and crude oil. Exports from Canada increased after two straight months of decline, and as a result our overall trade deficit narrowed from $1.4 billion to $955 million in August.

Total exports from Canada were valued at $50.6 billion for August 2019, while total imports were valued at $51.5 billion. Exports saw gains in eight of 11 product sections, driven by a 3.9 per cent increase in exports of energy products, a 109.7 per cent increase in nuclear fuel, and a 13.3 per cent increase in petroleum products. Seven of 11 product sections saw an increase when it came to imports, with Canadians importing more metal and non-metallic mineral products. The section saw in increase of 9.4 per cent for the month.

Canada’s trade activity with the United States, our principal trading partner, has increased in recent months and we are currently at a trade surplus position. In August we exported $4.9 Billion more in goods than imported from the US.

Why this matters: International trade data shows the demand for Canadian goods and services in the international market, and Canadian demand for international products. A deficit means that Canada is purchasing more international goods than selling Canadian products on the global market but is trending towards a stronger overall trade position.

 

August 20, 2019

$136 million – Trade surplus for Canada

Canada saw a 5.1 per cent drop in overall exports and a 4.3 per cent drop in overall imports for the month of June, reducing Canada’s trade surplus significantly from the $556 million it posted in May. The decline is due in part to significant decreases on oil, as well as aircraft and other transportation equipment.

June marked the first full month after the compensatory tariffs on steel, aluminum and other products were lifted by the Canadian and US governments. During this period, exports of previously tariffed steel and aluminum products to the United States increased 15.8 per cent and 47.2 per cent respectively. Changes to imports were less significant, with steel product imports increasing 3.4 per cent and aluminum and other selected products decreasing 3.8 per cent.

Source: Statistics Canada, Table 12-10-0011-01, International merchandise trade for all countries and by Principal Trading Partners, monthly (X 1000,000)

February 26, 2019

1.7 per cent increase in Retail Trade

Alberta retail sales remain flat for 2018

Slow growth in retail spending highlights tempered expectations for economic growth. Despite setting new record highs in retail sales in May 2018, Albertans spent only 1.7 per cent, or $1.4 billion, more in 2018 than in 2017. This is significantly below the 2.7 per cent increase we saw for Canada and lags behind growth in British Columbia (2.1 per cent) and Ontario (3.8 per cent). Alberta did see the highest growth in spending in the Prairies outpacing Manitoba (0.4 per cent) and Saskatchewan, which saw a spending decrease of 0.5 per cent year over year.

Notable areas for spending increases in December 2018 compared to 2017 are: General Merchandise ($65 million), Motor vehicle and parts ($38.7 million), and clothing and accessories ($36.1 million).

 

Keeping trade free: The benefits of NAFTA

It’s now a year after the NAFTA renegotiations officially began. Here are some stats illustrating why it’s important keep trade free in North America.

Economic growth

Since NAFTA came into effect in 1994, the North American economy has more than doubled. With the aid of freer trade, the North American economy accounts for 23% of the world’s GDP, with less than 7% of the global population.

Trade and investment

Alberta businesses sent $68 billion, or 86% of our total exports, to the United States in 2016, with 17 of our top 20 export destinations being U.S. states. Specifically, there are over 1,900 U.S.-based companies that supply equipment, parts, and services used in Alberta’s oil sands.

Our NAFTA partners invested C$393.8 billion into Canada in 2016, with Canada being the top export destination for 35 U.S. states. American exports into Canada are up 181% since 1993, the year before NAFTA came into effect.

Jobs

Millions of North Americans in every region depend on North American trade for their livelihoods. An estimated 1.9 million Canadian jobs are related to exports to the U.S. alone.

View this infographic for more on why we need to keep trade free in North America.

September 10, 2019 

Calgary’s Unemployment Rate Rises

7.3%: Calgary’s Unemployment Rate in July

Calgary

Calgary’s unemployment rate increased between July and August, moving from 6.9 per cent to 7.3 per cent. Unemployment in Calgary remains above the national rate by more than one and a half per cent and continues to be among the highest across major cities in the country.

Alberta

Unemployment also rose at the provincial level, jumping form seven per cent to 7.2 per cent. The rise is a result of more job seekers who are unable to find work. While 600 jobs were created in the province, there were 5,600 more people actively looking for work. In contrast, Edmonton’s unemployment rate dropped slightly to 7.4 per cent, and improvement of 0.1 percent.

Canada

The national unemployment rate remained unchanged from July at 5.7 per cent. There were 81,000 more people employed in August, however the gain was offset by the same number of people actively looking for employment. Increases in employment were largely focused in five provinces: Ontario, Quebec, Manitoba, Saskatchewan, and New Brunswick.

Calgary’s Unemployment Rate

7.0 per cent: Calgary’s Unemployment Rate in May

Calgary

Calgary’s unemployment rate dropped to 7.0 per cent in May coming down from 7.6 per cent last month. This improvement marks the second consecutive month where Calgary’s unemployment rate has improved, but the city’s unemployment rate still exceeds the national rate by over one and a half per cent.

Alberta

The improvement brings Calgary’s unemployment rate closer to the provincial rate of 6.7 per cent, which remains unchanged following a slight improvement in April. Edmonton’s rate improved by 0.1 per cent to reach 6.8 per cent, keeping it slightly below Calgary’s rate.

The province saw a significant increase in employment in wholesale and retail trade, adding 10,200 jobs in the month of May. This improvement was offset with the loss of 5,500 jobs in the business, building and other support services sector, as well as 3,600 jobs in the accommodation and food services sector.

Canada

Canada’s unemployment rate improved slightly in May, falling 0.3 percentage points to 5.4 per cent in May. This improvement was driven by the addition of 27,700 workers into full-time positions, accounted for largely by an increase in the professional, scientific and technical services sector.  The country also saw a significant increase in self-employed workers, following little change over the past three months. The number of self-employed workers rose by 62,000 in May.

 

May 14, 2019

Calgary’s Unemployment Rate

7.6 per cent: Calgary’s unemployment rate in April

Calgary

Calgary’s unemployment rate improved slightly to 7.6 per cent in April but continues to have the highest unemployment rate among major cities in Canada. The city’s unemployment rate still sits above the national rate by almost two per cent.

April was the first time since January 2019 employment in the city improved compared to the month before.

Alberta

Calgary’s unemployment rate in April was almost one per cent higher that the provincial rate of 6.7 per cent, which had a slight improvement from 6.9 per cent in March. Edmonton’s rate just outpaced Calgary’s improving from 7.1 per cent in March to 6.9 per cent in April.

The rise in Alberta’s employment comes after two months of minimal change. The province added 21,400 jobs in the month of April. 8,700 of the jobs added were full-time positions and 12,700 were part-time, concentrated in service industries.

Canada

Canada’s unemployment rate also improved slightly to 5.7 per cent in April after remaining unchanged at 5.8 per cent for the first three months of 2019. The country saw 107,000 more people working in last month with the notable gains coming in part-time work for youth. Wholesale and retail trade accounted for a large portion of new employment with 32,000 jobs added, these increases were concentrated in Alberta and Quebec.

April 9, 2019

Calgary’s Unemployment Rate 

7.7 per cent: Calgary’s unemployment rate in March

Calgary

Calgary’s unemployment rate rose slightly to 7.7 per cent in March, keeping it at the highest rate among all major cities in Canada. The city’s unemployment is roughly two per cent above the national unemployment rate.

This marks two straight months of rising unemployment for the city which saw increases from 7.3 per cent to 7.6 per cent between January and February. Calgary is in a slightly better position than it was in March last year when unemployment was 8.2 per cent, the highest rate in 2018.

Alberta

March’s unemployment rate for Calgary was higher than the provincial rate of 6.9 per cent, which improved from 7.3 per cent in February. Edmonton’s rate, however, increased from 7.0 per cent to 7.1 per cent in last month.

The slight improvement for the province comes from a combination of gains in full-time employment (18,100 jobs added) and a drop in the number of people looking for work (12,100 more people not actively looking for work).

Canada

Canada’s unemployment rate sits at 5.8 per cent for the month of March, remaining unchanged from the previous two months. The country did lose roughly 7,200 jobs overall, mostly in full time work, after posting two months of modest gains. The positions added however were outpaced by the number of people entering the job market – keeping the unemployment rate flat. The public sector led the way in job creation across Canada, adding 34,000 jobs. Alberta and British Columbia were responsible for the majority of these public sector positions.

The Atlantic Provinces are the only region that has a higher unemployment rate than Alberta.

March 12, 2019

Calgary’s Unemployment Rate

 7.6 per cent: Calgary’s unemployment rate in February

Calgary

Calgary’s unemployment rate rose to 7.6 per cent in February and remains highest among all major cities in Canada – roughly two per cent above the national rate.

This is a step backwards for Calgary’s unemployment rate, which had seen three straight months of improvements: 7.9 per cent in November (down from 8.2 per cent in October), 7.6 per cent in December, and 7.3 per cent in January.

Alberta

February’s unemployment rate for Calgary was higher than the provincial rate of 7.3 per cent, which increased from 6.8 per cent in January. Edmonton’s rate also increased from 6.4 per cent to 7.0 per cent.

The province added roughly 3,800 jobs (split evenly between part-time and full-time). Most of the gains came in the public sector which saw 11,500 positions added after steady declines since May 2018. Unfortunately, this was offset by 7,000 positions lost in the private sector. The number of people actively looking for work also rose in February as the total labour force grew by roughly 17,000.

Canada

Canada added roughly 56,000 jobs to the economy in the last month, driven by a rise in full-time jobs. Despite the modest gain, the unemployment rate remains unchanged from January at 5.8 per cent. This is due to the addition of the same number of people that are now actively looking for work across the country.

The Atlantic Provinces remain the only region that has a higher unemployment rate than Alberta.

 

February 12, 2019

Calgary’s Unemployment rate

7.3 per cent: Calgary’s unemployment rate in January 

Calgary

Calgary’s unemployment rate dropped to 7.3 per cent to start the year but continues to remain the highest of all major cities in Canada — still 1.5 per cent above the national rate.

Nonetheless, this marks the third straight month the city has seen unemployment improve. Unemployment in Calgary remained unchanged between August and October at 8.2 per cent, dropped to 7.9 per cent in November and finished the year at 7.6 per cent in December.

Alberta

January’s unemployment rate for Calgary was higher than the provincial rate of 6.8 per cent, which increased slightly from 6.4 per cent in December. Edmonton’s rate also increased from 6.3 per cent to 6.4 per cent.

The province lost roughly 16,000 jobs in January. A stark majority of the jobs lost (14,600) were full-time positions.

Canada

Even though the country added 67,000 jobs last month in service producing industries, Canada’s unemployment rate increased to 5.8 per cent in January. This is due to an increase in the number of people that are actively looking for work. The unemployment rate in December was 5.6 per cent.

The Atlantic Provinces remain the only region that has a higher unemployment rate than Alberta.

 

January 8, 2019

7.6%: Calgary’s unemployment rate in December

Calgary

Calgary’s unemployment rate dropped to 7.6 percent to end the year with the city adding 1,300 jobs in December. This comes after the unemployment rate remained unchanged between August and October at 8.2 percent and dropped to 7.9 percent in November.

Despite the slight improvement, Calgary continues to have the highest unemployment rate among major cities in Canada and is more than two percentage points over the national rate.

December’s unemployment rate for Calgary was higher than the provincial rate of 6.4 percent and Edmonton’s rate of 6.3 percent, both up slightly from last month.

Alberta

Alberta’s unemployment increased slightly from 6.3 percent to 6.4 percent last month. This is below the average unemployment rate for 2018 which was 6.7 percent. The province lost 16,900 jobs in December with losses in full-time work outweighing gains in part-time work for the month. The Atlantic Provinces remain the only region that has a higher unemployment rate.

Canada

Canada’s unemployment rate remained unchanged at 5.6 percent in December. The country added 185,000 full-time jobs over the last 12 months to drop unemployment from 5.9 percent in January. The current unemployment rate is slightly below Canada’s average rate for 2018 of 5.8 percent.

December 11, 2018

Calgary Unemployement rate 

7.9% : Calgary’s unemployment rate in November 

Calgary 

Calgary’s unemployment rate dropped slightly to 7.9% after remaining unchanged from 8.2% between August and October, adding 6,000 jobs. This matches Calgary’s average unemployment rate over the last 12 months. November’s unemployment rate was higher than the provincial rate of 6.3% and Edmonton’s rate of 6.2%. 
Calgary continues to have the highest unemployment rate among major cities in Canada and is more than two percentage points over the national rate. 

Alberta 

Alberta’s unemployment dropped by 1 percentage point from 7.3% last month to 6.3% this month, dropping below the average of 6.7% for the last 12 months while adding 24,000 jobs. Most of the improvement is due to the increase in employment, but some is also a result of a small decline in the participation rate, with the number of people looking for work between October and November dropping. The Atlantic Provinces remain the only region that has a higher unemployment rate. 

Canada 

Canada’s unemployment rate dropped slightly from 5.8% in October to 5.6% in November, reflecting gains made in full-time work (227,000 new jobs added in the last year). This is slightly below Canada’s average unemployment rate over the last 12-month period of 5.9%.

Nov. 6, 2018

Calgary unemployment rate 

8.2%: Calgary’s unemployment rate in October

Calgary

Calgary’s unemployment rate remained unchanged for the third month in a row at 8.2%. This is above Calgary’s average unemployment rate of 7.9% over the last 12 months. October’s unemployment rate is was also higher than the provincial rate of 7.3% and Edmonton’s rate of 6.7%.
Calgary continues to have the highest unemployment rate among major cities in Canada and is still more than two percentage points over the national rate.

Alberta

Alberta’s unemployment rose slightly from 7.0% last month to 7.3% this month, this is still above the average for the last 12 months of 6.9%. The Atlantic Provinces are the only region that has a higher unemployment rate.

Canada

Canada’s unemployment rate dropped slightly from 5.9% in September to 5.8% in October, due to fewer people looking for work. This is consistent with Canada’s average unemployment rate over the last 12-month period of 5.9%.

October 9, 2018: Unemployment rate

8.2% – Calgary’s unemployment rate in September

Calgary

Calgary’s unemployment rate remained steady at 8.2% in September. This represents an increase from the average unemployment rate in Calgary over the last 12 months of 7.9%. It is also higher than the provincial rate of 7.0% and Edmonton at 6.3%

Calgary has the highest unemployment rate among all major Canadian cities, more than two percentage points above the national rate.

Alberta

Alberta’s unemployment rate increased to 7.0% in September from 6.7% last month. Remaining stable with Alberta’s average unemployment rate over the last 12 months of 7.0%.

Canada

Employment increased by 63,000 in September, driven by an increase in part-time employment. This brought about a small decrease in the country’s unemployment rate to 5.9%.

In the past year, Canada added 222,000 jobs, largely the result of growth in full-time work.

 

7.9% unemployment rate in Calgary (July 2018)

Calgary

Calgary’s unemployment rate has gone up from 7.7% in June to 7.9% in July.

Calgary has the highest unemployment rate among all major Canadian cities, and two percentage points above the national rate. Calgary now has 13,700 fewer jobs compared to January 2018 and 10,200 fewer than this time last year.

Alberta

Alberta’s unemployment rate also went up slightly to 6.7% in July. Although there was a rise in part-time positions last month, it did not fully offset the decline in full-time positions resulting in a net loss of 3,600 jobs across the province.

Compared to this time last year, employment figures have been improving across Alberta, with 40,000 total jobs added.

Canada

In the past year Canada added 246,000 jobs, largely the result of growth in full-time work. Canada’s unemployment rate now sits at 5.8%.

Canada’s July employment gains are largely attributed to public-sector growth, as private-sector jobs were virtually unchanged. Compared to last year, public-sector employment has increased by 132,000, while the private-sector has increased by 69,000 jobs.

 

2.6% job vacancy rate in Alberta (Q1 2018) 

The job vacancy rate tracks how many jobs are going unfilled relative to the total number of jobs. A high vacancy rate may suggest that businesses are having a difficult time finding employees – or finding ones with the right skills. A lower vacancy rate – as experienced recently in Alberta – can be a sign of a struggling economy.  

Alberta’s 2.6% job vacancy rate has increased since 2016 – Calgary and Edmonton have the lowest within the province – but remains below the national vacancy rate of 2.9%. BC has the highest vacancy rate among the provinces at 4.2%. 

7.7% unemployment rate in Calgary 

Calgary’s unemployment rate is the highest among all major Canadian cities. There are nearly 70,000 unemployed Calgarians, with our city losing nearly 4,600 jobs between May and June. While the picture may seem gloomy, Calgary’s labour market has seen improvements over the past few years.

Stats Canada Table 14-10-0294-01 

 

The Unemployment rate in Calgary (August 2018)

8.2%; Calgary’s unemployment rate in August 

Calgary 

Calgary’s unemployment rate increased for the second month in a row from 7.9% in July to 8.2% in August.  
Calgary has the highest unemployment rate among all major Canadian cities, and more than two percentage points above the national rate. Calgary now has 14,500 fewer jobs compared to this time last year. 

Alberta 

Alberta’s unemployment rate remained steady at 6.7% in August. Compared with this time last year, employment figures have been improving in the province, with 53,000 jobs being added.  
Canada 
Employment decreased by 52,000 in August, this is largely a result of a decline in part-time employment. The employment decrease in August has brought the country’s unemployment rate up slightly to 6%. 
In the past year Canada added 172,000 jobs, largely the result of growth in full-time work.  

 

Alberta 2018 budget update

The Alberta Government’s quarterly fiscal update is forecasting a $7.8 billion deficit – $1 billion lower than was announced in Budget 2018, due to greater than anticipated revenue.

Revenue was up $1.2 billion from $49.1 billion. This increased revenue was due to higher than anticipated personal income tax, resource revenue, and federal transfers.

Spending levels stayed relatively consistent with those forecasted in Budget 2018. Debt levels remain around $53-billion by year-end.

This quarterly update does not change the long term forecast for a balanced budget by 2023-24. The plan to balance by 2023-24 relies on continued economic growth, and the completion of three pipeline developments, including Trans Mountain. No changes were made to account for the loss of revenue from higher carbon taxes expected after 2021, after Premier Notley announce Alberta will pull out of the federal climate plan, after the Trans Mountain pipeline approval had been quashed.

 

Global Competitiveness 

December 18, 2018

22/190 – Canada now ranks 22nd out of 190 countries on ease of doing business in the World Bank’s “Doing Business 2019” report. 

Canada is becoming less competitive  

The World Bank “Doing Business 2019: Training for Reform” report ranks 190 countries on how their business regulations impact the ability to start and run a business. Canada now ranks 22nd overall, behind the United States, which ranks 8th. This is a noteworthy drop for Canada as it was previously ranked 18th in 2018. The United States also saw a small loss in competitiveness, dropping two places from sixth overall in 2018.

 

 

 

18/190

Canada is ranked 18 out of 190 countries on the ease of doing business, in the World Bank “Doing Business” 2018 report. 

Canada is becoming less competitive 

The World Bank “Doing Business” 2018 report ranks 190 countries on how their business regulations impact the ability to start and run a business. In the 2018 report, Canada ranked 18th overall and by comparison, the United States ranked 6th. Canada’s corporate tax rate was identified as an advantage relative to the United States, but since the writing of this report, the United States has implemented a major tax cut and regulatory reform bill.  

Coupled with the loss of Canada’s corporate tax advantage relative to the United States, an increasingly uncertain investment climate is forcing investors to reconsider deploying long term capital in Canada. In 2017, total capital spending on Canadian oil and gas was down 19% from 2016, and 44% from 2014. In comparison, capital spending on oil and natural gas in the U.S. last year increased by 38% to $120 billion. 

Increasing regulatory burdens are a key factor deterring large capital investments, especially in Canada’s energy sector. There are up to 50 policy and regulatory initiatives currently being considered by the federal and provincial governments that could undermine investor confidence in Canada’s energy sector.  

This report also highlights that in Canada, it is relatively easy to start a business – we are 2nd best out of the 190 OECD countries, however, Canadian businesses face issues scaling up. Only a tiny fraction, 0.1%, of all businesses grow past the 100-employee mark – and this is 40% lower than in 2001. Less than 2% of medium-sized firms (100-499 employees) become big businesses, which are key drivers of workforce productivity, job growth, and business efficiency.

 

September 24, 2019

Inflation in Calgary remains low

0.9 percent inflation rate over the last 12 months.

Calgary’s headline inflation rate was 0.9 per cent over the last 12 months, with prices for all goods and services between August 2018 and 2019 rising by less than one per cent. Between July and August, prices in the city declined by 0.1 percent year-over-year. The year-over- year inflation rate is just below the Bank of Canada’s target rate of one and three percent.

Inflation in the city still sits well below the provincial rate of 1.3 per cent, which remained unchanged from last month. Prices in Edmonton rose at the same rate as the province, also unchanged from the previous month. Prices in Canada rose at 1.9 percent, slowing down slightly from the rate of 2.0 percent last month. In all instances, prices dropped by 0.1 percent compare to last month, largely due to a 10.2 per cent drop in gasoline prices.

Why Inflation matters: Consumer Price Index (CPI) is the measurement of the average price of a selected group of goods and services, that most people pay for. It includes items like food, shelter, clothing, gas and more. The change in this indexes price is referred to as inflation and generally increases over time for all goods and services, reducing the ‘purchasing power’ of each dollar. Inflation that is within the Bank of Canada’s target range reduces uncertainty by making sure prices don’t spike to the point where people cannot afford the goods and services they need. A stable inflation rate allows us more easily predict our cost of living.

Data Source: Statistics Canada. Table 18-10-0004-02: Consumer Price Index, monthly, not seasonally adjusted

August 27, 2019

Calgary prices rising slowly in July

0.8 per cent inflation rate over the last 12 months.

Calgary’s headline inflation rate was 0.8 per cent over the last 12 months. This means that prices for all goods and services between July 2018 and 2019 rose by less than one per cent. Year over year, the rate is just below the Bank of Canada’s target rate of one and three percent.

Inflation in the city still sits well below the provincial rate of 1.3 per cent, which slowed down slightly from the 1.4 per cent change last month. The drop is largely due to a 15.1 per cent drop in prices for natural gas across the province.

Prices in Edmonton rose at the same rate as the province, 1.3 per cent, slowing down slightly from the 1.5 per cent increase in the previous month. Prices in Canada rose at 2.0 per cent, at the same rate as last month, remaining at the middle point of the Bank of Canada’s target rate.

 

Data Source: Statistics Canada. Table 18-10-0004-02: Consumer Price Index, monthly, not seasonally adjusted

July 23, 2019 

Prices in Calgary rise at a slower rate in June

1.1 per cent inflation rate over the last 12 months.

Headline inflation rate in Calgary rose by 1.1 per cent between June 2018 and June 2019. While inflation fell 0.9 per cent from May to June, the year over year rate remains within the Bank of Canada’s target rate of one and three percent.

Inflation in the city still sits below the provincial rate of 1.4 per cent, which fell 0.9 per cent from May to June as a result of an 8.4 per cent reduction in the year over year price of energy. The fall in energy price is largely due to a decline in global oil prices and the removal of carbon pricing in Alberta.

Prices in Edmonton rose slightly above the provincial rate, at 1.5 per cent. Prices in Canada rose at 2.0 per cent, but at a slower rate in June than they did in May due to lower month-over-month energy prices.

 

Prices in Calgary continue to rise with inflation targets

1.8 per cent inflation rate over the last 12 months.

Between May 2018 and May 2019, headline inflation rate in Calgary rose by 1.8 per cent. This growth falls comfortably within the Bank of Canada’s target range of one and three per cent. The price of electricity has been the primary driver of inflation over the past year, increasing by 11.4 per cent over the same time.

Inflation in the city was lower than the provincial rate of 2.3 per cent, driven by increases in the price of shelter, water, fuel and electricity. Prices in Edmonton rose slightly higher compared to Calgary at 2.3 per cent. Prices in Canada are rising at a slightly above the provincial pace, at 2.4 per cent. Prices across Canada rose at a faster rate in May than they did in April.

 

 

June 11, 2019

Inflation Outpacing Weekly Earnings in Alberta

1.9 per cent higher increase in prices than wages

Between March 2018 and March 2019, prices of goods and services rose faster than Albertan’s wages. Over the 12-month period Alberta’s headline inflation rate was 2.3 per cent while average weekly earnings grew at the rate of 0.4 per cent bringing weekly earnings for the average Albertan up to $1,159.15. Over the same time, seven of the eight major Consumer Price Index (CPI) components increased. Rising cost of shelter, food, and transportation remain the primary drivers of inflation. The price of natural gas was the primary culprit for the upward pressure of shelter costs in the province, rising by 22.8 per cent year over year.

The slight increase in weekly earnings was driven by a thirteen per cent increase in earnings for Mining, Quarrying and Oil and Gas extraction, as well as a ten per cent increase in earnings for those working in Administration. These increases were offset by reduced earnings in three employment sectors, the most significant being a five per cent decrease in earnings for Forestry, Logging and Support.

The disparity between earnings and the cost of goods and services show that the average Albertan is no longer able to afford the products they would normally purchase, and instead must settle for cheaper alternatives.

At the national level, average weekly earnings kept pace with inflation, with both rising at the rate of 1.9 per cent.

May 21, 2019

Prices in Calgary rising with inflation targets 

1.8 per cent inflation rate over the last 12 months.

Between April 2018 and April 2019, headline inflation rate for Calgary rose by 1.8 per cent, falling within the Bank of Canada’s target range of one and three per cent. Average weekly earnings in the city over the same period rose by 2.1 per cent keeping up with rising prices. Cost of goods and services have now risen 2.2 per cent from the start of 2019 to April. The rising cost of shelter remains a primary driver of inflation for 2019, increasing by 2.2 per cent over the past year.

Inflation in the city was slightly lower than the provincial rate of 2.2 per cent, driven by increases in natural gas prices. Prices in Edmonton rose at a slightly higher rate than Calgary at 2.1 per cent, while prices across Canada increased at 2.0 per cent. Increases at the national level were driven by a 10 per cent increase in gas prices. This comes a result of federal carbon pricing introduced in New Brunswick, Ontario, Manitoba and Saskatchewan under the Greenhouse Gas Pollution Pricing Act coupled with Prince Edward Island implementing its own carbon levy.

British Columbia posted the largest increase among provinces at 2.7 per cent.

 

April 23, 2019

Prices in Calgary continue to rise

2.1 per cent inflation rate over the last 12 months.

Between March 2018 and March 2019, prices in Calgary increased by 2.1 per cent, slightly above the Bank of Canada’s target of two per cent. Prices rose one per cent from February 2019 to March 2019. The rising cost of shelter remains the primary driver of inflation for 2019, increasing by 3.8 per cent over the past year.

Inflation in the city was slightly lower than the provincial rate of 2.3 per cent, driven by increases in gasoline and natural gas prices. Prices in Edmonton rose at the same rate as Calgary at 2.1 per cent. Prices in Canada are rising at a slightly slower pace, at 1.9 per cent. Prices across all provinces rose at a faster rate in March than they did in February.

 

 

March 26, 2019

Prices are slowly rising in Calgary 

1.4 per cent inflation rate over the last 12 months.

Between February 2018 to February 2019, prices in Calgary increased by 1.4 per cent and are up 1.1 per cent compared to January.

Rising cost of shelter was the primary driver of inflation, increasing by 2.6 per cent over the past year. Increases in transportation (5.5 per cent) and food costs (1.5 per cent) also contributed to the overall rise in Calgary.

Inflation in the city was slightly lower than Alberta and Edmonton, with both seeing increases of 1.6 per cent. Prices are rising at a similar pace for Canada as well, at a rate of 1.5 per cent. Rising prices for food and shelter are consistent contributors to increases both provincially and nationally.

January 22, 2019

2% – Calgary’s inflation over the last 12 months
From December 2017 to December 2018, inflation in Calgary increased to 2 per cent, up from 1.4 per cent in November. Compared to the yearly average price of goods in 2017, prices were up 2.4 per cent for the city in 2018.

Transportation costs were the primary cause of inflation, increasing by 1.2 per cent over the past year. Increases in shelter (0.5 per cent) and food costs (0.2 per cent) also contributed to the overall increase in Calgary’s inflation rate.

Inflation in Calgary was slightly lower than Alberta’s 2.1 per cent over the past year but matched inflation with the rest of Canada at 2 per cent.

 

 

November 27, 2018:  Inflation in Calgary  

2.5% – Calgary’s headline inflation over the last 12 months  
  
Prices are increasing in Calgary. From October 2017 to October 2018, headline inflation in Calgary increased by 2.5%.   
  
Transportation costs were the primary cause of inflation, increasing by 6.7% over the past year. Increasing shelter (1.9%) and food costs (1.5%) costs also contributed to the increase in Calgary’s inflation rate.    
 
Inflation in Calgary (2.5%) was slightly lower than Alberta (2.8%) over the past year, but both the city and the province had higher inflation rates than the rest of Canada (2.4%).

 

October 2, 2018

Inflation in Calgary

2.26% – Calgary’s headline inflation over the last 12 months

Prices are increasing in Calgary 

From August 2017 to Aug 2018, headline inflation in Calgary increased by 2.26% . 

Transportation costs were the primary cause of inflation, increasing by almost 6% over the past year. Increasing food (1.5%) and shelter (1.74%) costs also contributed to the increase in Calgary’s inflation rate.  

Inflation in Calgary (2.26%) was slightly lower than Alberta (2.27%) over the past year, but both the city and the province had higher inflation than the rest of Canada (2.15%).  

Uncertainty around NAFTA negotiations along with retaliatory tariffs on different products have put upward pressure on prices in Canada and the United States. 

October 16, 2018

Average October 2018 WCS-WTI Oil Price Differential  

$49.62/per barrel – Average differential in October between Western Canada Select (WCS) and West Texas Intermediate (WTI) – as of October 11, 2018.  

As of Oct 15, 2018, WTI was at $71.39 and WCS was $24.59.  

The Alberta government has indicated that widening price differentials are costing Canadian producers and governments upward of $40-million a day.  

While global oil prices have been recovering from the downturn, companies in Alberta have been unable to get world prices for their products and have been forced to accept a steep discount. This is why projects like the Trans Mountain Expansion are so important, Alberta needs more pipeline export capacity and access to world markets if we want to avoid selling our energy products at a significant discount.  

There has always been a discount for WCS relative to WTI. But over the last decade the largest monthly average price differential was $38.94 in December of 2013 – and so far in October of 2018, the average differential has been $49.62, putting the gap between the two oil prices at the highest level on record.