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August 2015 Alberta Economic Fundamentals

Ally

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Grande Prairie population boom the envy of the Peace

“We keep growing and growing and growing!” the city of Grande Prairie announced in an Aug. 13 news release. It’s a headline some long-time Dawson Creek residents will greet with a sigh.

Grande Prairie’s 2015 municipal census, delivered this month, pegs the town’s population at 68,556—a stunning 36 per cent increase over the city’s 2007 population. Between 2011 and the municipal census, the city added 13,524 new residents—greater than the population of Dawson Creek.


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Ally

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Red tape not as sticky for Edmonton housing developments, says Fraser Institute study

Edmonton’s bylaws and regulations are not proving to be a barrier to new residential development but it still takes an average of 13 months to get permits for a new house, says a new study by the Fraser Institute.

The cost for all the necessary permits is roughly $23,000 per house, according to a new survey of developers active in the Calgary-Edmonton corridor.

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Ally

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Number of job openings in Alberta falls

It said there were 50,300 openings in full-time, part-time and temporary positions in the province in the second quarter of this year, down from 56,900 in the first quarter.

The province’s job vacancy rate dipped by 0.3 per cent to 2.9 per cent, second-highest in the country behind Saskatchewan at 3.1 per cent.

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Ally

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For OPEC, this year’s painful oil slump will bring gains in 2016

Supplies outside OPEC are expected to contract in 2016 for the first time since 2008, sliding by 200,000 barrels a day, according to the International Energy Agency. With consumption set to grow by 1.4 million barrels a day, OPEC and its de facto leader Saudi Arabia could seize the chance to broaden their market as competitors damaged by the price slump fall off.

“To declare their policy a failure is a pretty big leap,” said Greg Sharenow, who manages US$15 billion as executive vice president of Pacific Investment Management Co. “I don’t think you could view Saudi and OPEC’s business plan and model as being a six- or 12-month view. In the long-run, what you’re going to see is lower non-OPEC supply, higher demand and greater market share for them.”

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Ally

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Higher vacancy rate in Edmonton making annual student move-in easier this year

EDMONTON - A few hours after Gregoire Marechal got off the plane from France, he was rolling his suitcase down 104th Avenue and into the front doors of his new home at MacEwan University on Sunday.

The business student said when he was planning his trans-Atlantic move to Edmonton, he encountered little difficulty finding accommodation for the school year.

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