Alberta bucks trend of shaky economies
The Bank of Canada left its overnight rate at 1% amid fears international economies are dragging down the Canadian economy, but not so much in Alberta.
A report from Ben Brunnen, chief economist for the Calgary Chamber of Commerce, asks why Alberta and Calgary `didn`t get the memo.`
`Despite continued global economic uncertainty, annual investment (and reinvestment) has grown in Alberta`s energy sector since 2009, suggesting companies expect oil prices to remain in profitable territory for the foreseeable future,` says Brunnen.
`Job creation has been relatively robust throughout 2010-11, and net interprovincial migration numbers in 2012 are expected to be comparable to those in 2008.`
(Statistics Canada reports net interprovincial migration to Alberta was 15,317 people in 2008).
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