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April 2013 Alberta Economic Fundamentals

Ally

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Albertans taking steps to pay off their mortgage faster



CALGARY ` A survey by Scotiabank shows that 69 per cent of Alberta mortgage holders say it`s possible to pay off their mortgage faster without affecting their lifestyle.





The bank`s Mortgage Landscape Study, released Tuesday, found that 67 per cent of Canadians felt that way.





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Alberta retail sales growth best in Canada




CALGARY ` Retail sales growth in Alberta was the best in Canada in February reaching close to $6 billion, according to Statistics Canada.




The federal agency reported Tuesday that sales in the province were up 7.4 per cent from a year ago.





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Property prices and down payments biggest challenges for Alberta first-time homebuyers




CALGARY ` The road to home ownership isn`t what it used to be, according to young homebuyers in Alberta as new research released Tuesday by TD Canada Trust indicates they are the most likely in the country to say property prices are too high and saving for a down payment is a challenge.




The study found Generation Y (or Millennials) identifies three main obstacles to home ownership that weren`t as much of an issue for Boomers: the ability to save for a down payment, housing prices and insufficient salaries.





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Housing market is growing in Alberta





Toronto, ON, Apr 26, 2013 (PRWeb.com via COMTEX) -- Investors are keeping a close eye on market trends on a weekly basis. New home sales and construction along with how long a home is staying on the market point to potential growth in the housing sector.







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Alberta explores possibility of oil pipeline to Arctic





Alberta has turned its eye to Canada`s Arctic as its latest possible avenue to pipe oil out and into the global market.






The province has backed a $50,000 feasibility study to see if it`s physically and financially viable to pump the oilsands bitumen to Tuktoyaktuk, N.W.T., on the Beaufort Sea and the Arctic Ocean.






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Alberta economic growth leader for all provinces




CALGARY ` For the second year in a row, Alberta has led all provinces in economic growth, according to Statistics Canada.




The federal agency reported Friday that Real Gross Domestic Product growth by industry in the province was 3.9 per cent in 2012 compared with 1.8 per cent across the country.





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Ally

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Albertans paying off their mortgages faster



CALGARY ` A survey by Scotiabank shows that 69 per cent of Alberta mortgage holders say it`s possible to pay off their mortgage faster without affecting their lifestyle.





The bank`s Mortgage Landscape Study, released Tuesday, found that 67 per cent of Canadians felt that way.





Read the full article here.
 

Ally

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Alberta business and labour unhappy with new foreign worker rules




EDMONTON - Alberta business and labour groups have denounced sweeping changes to Canada`s temporary foreign worker program, including higher wages for newcomers, better training for Canadians and tougher penalties for employers who break the rules.




Federal Immigration Minister Jason Kenney announced the changes in Ottawa on Monday in an effort to quell public outrage after Royal Bank of Canada employees alleged last month they were told to train foreign workers who were taking their jobs.





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Alberta forecast to lead Canadian growth in 2014




CALGARY ` Alberta`s economic growth this year will be second only to Newfoundland & Labrabor, but Wild Rose Country will top the nation in 2014, according to a new forecast by RBC Economics.




The forecast said Newfoundland & Labrador will lead the country in Real Gross Domestic Product growth this year at 5.1 per cent followed by Alberta at 3.0 per cent.





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Suncor says plans to boost oil sands output by 100,000 bdp




April 30 (Reuters) - Suncor Energy Inc, Canada's largest oil and natural gas producer, said on Tuesday it plans to increase its oil sands production by 100,000 barrels per day over the next four years through small-scale projects.





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Calgary area job prospects listed as 'stable'




CALGARY ` Near-term job prospects for the Calgary region are listed as `stable` in a report released Monday by the Conference Board of Canada.




The board`s Help Wanted Index said economic growth in Canada has been weak in recent months; thus, expectations for the labour market are modest.





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