Alberta's jobless rate highest since 2002 - "Alberta gained 5,700 jobs in April but its unemployment rate still inched up to six per cent, according to figures released Friday by Statistics Canada. It’s the highest provincial rate since 2002.
The increase in unemployment from 5.8 per cent in March despite job growth was attributed to the labour force growing by 9,400 people."
He said much of Alberta's problem is that its residents see the bad news and cut back on spending. "The key message is that we are in a great place, the economy is strong and the banking industry in Alberta is supporting the economy here."
Canada Real Estate Forecast - "The Canadian Real Estate Association (CREA) recently released its predictions for 2009-2010, and it expects Multiple Listing Service (MLS) sales to decline in 2009 before rebounding in 2010."
A move toward creating more environmentally sustainable energy sources could provide jobs for electricians, computer and electrical engineers, iron and steel workers, welders, construction workers and sheet metal workers, the report says."
More fiction than fact in riches-to-rags tales of Alberta in crisis - "There's a germ of truth in all this. But as with the previous spin job, it's more than a bit simplistic, and almost totally devoid of context. While it satisfies the national media's taste for caricature, it's more fiction than fact.
Yes, activity in Alberta's oilpatch has slowed sharply. After all, energy is a cyclical business, and it's obviously in a down cycle. But oil is still hovering near $50 US a barrel. In the late 1990s, it was at $10. Now, that's a real crisis."
Suncor boss sees sunny outlook -" Where Albertans--even Canadians--focus on the slowdown in the oilsands activity and attendant consequences on economic growth, George reminded the 200 people who attended his presentation that the oilsands is anything but a short-term business."
"It's not a sprint, but a marathon.A clear focus on long-term objectives and steady, reliable strategic advantages win the day," he said.
Edmonton Airport Continues Expansion Program - "Edmonton International Airport is continuing its $1 billion expansion to allow the airport to keep pace with economic development in the region, airport officials said."
"While it's clear we need to move ahead with our expansion, Edmonton Airports is working earnestly to identify potential cost savings through value engineering and taking advantage of a cooled economy." said Reg Milley, president and CEO of Edmonton Airports. "For example, we're pursuing procurement strategies to lock in materials and supplies now, recognizing that the economy will shift again, and prices will follow."
This is why Edmonton is an incredible place to do business. A cooled economy is an opportunity to prepare for the next big rise which everyone knows will come. Edmonton is constantly improving and changing to promote itself and attract business.
Edmonton oil trade at bottom of barrel - "Until oil prices began falling after July’s record high of US$147, Alberta was enjoying a boom that attracted thousands of workers from other parts of Canada and beyond.
The windfall largely came from the oil sands, produced from an area of northern forest about 500km north-east of Edmonton that contains vast deposits of oil mixed with grit."
“When the boom started oil was at $26. At that price refineries are still working and have to be maintained,” said Terry Drabuik, Nait’s director of corporate and international training. “We will sustain the industry as long as the world doesn’t collapse.”
Oil sands projects have been delayed not canceled. The sands only need $30 barrels to be profitable and as long as there is a need for oil there will be a need for the oilsands.
Edmonton ranks No. 3 on list of U-Haul destinations - "... the report could be considered good news for Alberta to have two cities ranked so highly, because economists say in-migration stimulates sectors such as housing and retail and provides labour for the destination economy."
Edmonton is viewed as the place to go for jobs, higher salaries, lower taxes and still affordable cost of living.
Sask. cities, Toronto have most momentum: CIBC - However, some formerly hot Western Canadian cities tumbled in the rankings, including Edmonton, which fell to fifth from first, and Calgary, which went to sixth from second.
"A notable softening in labour market activity, population growth and housing market activity clearly played a significant role in the worsening position of (Western) cities," CIBC said. "However, it is important to note that while Western Canada's largest cities are losing economic momentum, the absolute levels of activity in those cities are still well above average."
Employers not appealing to Gen X and Yers - "The labour market in Edmonton and Alberta is tight as I've ever seen it in 10 years in this industry, and if you can't attract this next generation of upcoming leaders, the Gen X and Gen Y, then you as an organization are going to have significant challenges moving forward." Mike Corbett, vice-president, Edmonton, at David Aplin Recruiting.
Poll results buoy Alberta minister - "Fifty-seven per cent of respondents in The Canadian Press Harris-Decima survey said there are more benefits than drawbacks to the oil sands, while 35 per cent reported the reverse.
A majority of those surveyed in every province except Quebec supported the benefits, with Alberta leading at 70 per cent.
"This data tells us a lot of Canadians do see there is benefit to the oil sands that goes beyond Alberta," Jeff Walker, senior vice-president with Harris-Decima, said yesterday.
Energy boost welcomed - Mel Knight announced yesterday that the government will offer a maximum 5% royalty rate for new oil and gas wells that begin production between April 1, 2009, and March 31 next year.
The province will also offer a drilling royalty credit of $200 per metre drilled for new conventional oil and gas wells, on a sliding scale based on their production levels from 2008.
Albertan consumers still confident - "If you look at Alberta relative to itself from a year ago, then we're probably seeing some of the largest slowdowns in Canada," said ATB Financial economist Dan Sumner. "But if you look at Alberta now compared to everyone else right now, we're still doing OK. Retail sales per capita are still by far the highest in Canada."
Edmonton realtor No. 1 in Canada and No. 5 in the world - "This is an incredible time to be buying a house as prices have dropped to their lowest level in years, and buyers have great choices. I have not seen such opportunities for home buyers in the last 12 years, and based on my activities so far in this year, it is looking extremely positive."
