February Alberta Economic Fundamentals
- Thread starter Ally
- Start date
- Joined
- Mar 24, 2009
- Messages
- 16,743
Ottawa to Beijing - Take our oil please
Brian Lee Crowley is no fool. He`s the managing director of the Macdonald-Laurier Institute, the founding president of the Atlantic Institute for Market Studies, and a fine rum lad. A detractor might insinuate something to the effect that if there were a Canadian political party explicitly devoted to the proposition that taxes are carcinogenic and government is cholera, your man Brian would be a ranking member in the politburo of its central committee. But I`m not one of Brian`s detractors, so I would never say anything like that.
In Saturday`s Ottawa Citizen, Brian enters a conversation I`ve been lately encouraging sensible Canadians to have about the implications of Prime Minister Harper`s unexplained and sudden embrace of a corporate entity run by the Chinese Communist Party that serves as the guarantor of Omar al-Bashir`s regime in Khartoum, the bottomless overdraft in Bashar al-Assad`s bank account in Damascus, and the specific means by which Tehran`s Khomeinists are evading the West`s sanctions and double-daring us into a war.
Read the full article here.
Brian Lee Crowley is no fool. He`s the managing director of the Macdonald-Laurier Institute, the founding president of the Atlantic Institute for Market Studies, and a fine rum lad. A detractor might insinuate something to the effect that if there were a Canadian political party explicitly devoted to the proposition that taxes are carcinogenic and government is cholera, your man Brian would be a ranking member in the politburo of its central committee. But I`m not one of Brian`s detractors, so I would never say anything like that.
In Saturday`s Ottawa Citizen, Brian enters a conversation I`ve been lately encouraging sensible Canadians to have about the implications of Prime Minister Harper`s unexplained and sudden embrace of a corporate entity run by the Chinese Communist Party that serves as the guarantor of Omar al-Bashir`s regime in Khartoum, the bottomless overdraft in Bashar al-Assad`s bank account in Damascus, and the specific means by which Tehran`s Khomeinists are evading the West`s sanctions and double-daring us into a war.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Okotoks reaps economic benefit of expanding Calgary
CALGARY ` The Town of Okotoks is reaping the economic benefits of a burgeoning big city.
As Calgary`s population and industry have ballooned in recent years in its southern expansion, that`s had a positive spinoff effect for Okotoks.
`We are seeing trickle down effects. South Calgary certainly is growing,` said Shane Olson, economic development team leader for the Town of Okotoks.
`We`re seeing some of the side-effects here. Growth in Calgary is benefiting Okotoks and benefiting the region for sure.`
Read the full article here.
CALGARY ` The Town of Okotoks is reaping the economic benefits of a burgeoning big city.
As Calgary`s population and industry have ballooned in recent years in its southern expansion, that`s had a positive spinoff effect for Okotoks.
`We are seeing trickle down effects. South Calgary certainly is growing,` said Shane Olson, economic development team leader for the Town of Okotoks.
`We`re seeing some of the side-effects here. Growth in Calgary is benefiting Okotoks and benefiting the region for sure.`
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Oil sands companies brace for higher costs
For oil sands companies, the pinch is on.
Or at least, it`s starting.
After several years of recovering from the beating they took at the hands of plunging crude prices and collapsed credit, the swarm of energy producers spending billions of dollars on the oil sands are at the cusp of a familiar problem: soaring prices.
Read the full article here.
For oil sands companies, the pinch is on.
Or at least, it`s starting.
After several years of recovering from the beating they took at the hands of plunging crude prices and collapsed credit, the swarm of energy producers spending billions of dollars on the oil sands are at the cusp of a familiar problem: soaring prices.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Alberta earnings top all Canadian provinces
CALGARY ` Alberta continues to post the highest level of earnings among the provinces, according to Statistics Canada.
The federal agency reported Thursday that average weekly earnings of non-farm payroll employees in Alberta rose to $1,052.53 in November, up five per cent from a year ago.
Read the full article here.
CALGARY ` Alberta continues to post the highest level of earnings among the provinces, according to Statistics Canada.
The federal agency reported Thursday that average weekly earnings of non-farm payroll employees in Alberta rose to $1,052.53 in November, up five per cent from a year ago.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Multi-family market a 'safe haven' for real estate investors
EDMONTON - Volatile stock markets and minuscule returns from fixed income have investors looking at global real estate. But rather than single-family residential property, the hot ticket these days is multiple-family dwellings.
At a luncheon for financial analysts with the Edmonton CFA Society, Eric Bonnor, senior vice-president with Brookfield Asset Management in Toronto, quoted from the publication Emerging Trends in Real Estate 2012, a survey of 950 real estate executives by the accounting firm PricewaterhouseCoopers and the Urban Land Institute.
Read the full article here.
EDMONTON - Volatile stock markets and minuscule returns from fixed income have investors looking at global real estate. But rather than single-family residential property, the hot ticket these days is multiple-family dwellings.
At a luncheon for financial analysts with the Edmonton CFA Society, Eric Bonnor, senior vice-president with Brookfield Asset Management in Toronto, quoted from the publication Emerging Trends in Real Estate 2012, a survey of 950 real estate executives by the accounting firm PricewaterhouseCoopers and the Urban Land Institute.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Edmonton multi-family vacancy rates shrink
EDMONTON - Vacancy rates for multi-family dwellings in Edmonton shrank by almost a full percentage point last year, according to a report released Monday by Avison Young.
Overall vacancy changed from 4.2 per cent in 2010 to 3.3 per cent in 2011, despite a small increase in vacancy in the city`s outlying areas.
Read the full article here.
EDMONTON - Vacancy rates for multi-family dwellings in Edmonton shrank by almost a full percentage point last year, according to a report released Monday by Avison Young.
Overall vacancy changed from 4.2 per cent in 2010 to 3.3 per cent in 2011, despite a small increase in vacancy in the city`s outlying areas.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Housing demand and demographics: Pulling against gravity
Interest rates, wages and prices are all factors affecting housing affordability, which in turn influence housing demand by Alberta families. Of interest here is the influence of new households on the markets, as it is new entrants in the buyer market that keep construction going and demand strong.
In Alberta, it`s traditionally thought that inter-provincial migration has been the dominant source of new people. What shouldn`t be overlooked, however, is the impact that the boom had on how the average Albertan decided to cohabitate, especially among the younger generation.
Read the full article here.
Interest rates, wages and prices are all factors affecting housing affordability, which in turn influence housing demand by Alberta families. Of interest here is the influence of new households on the markets, as it is new entrants in the buyer market that keep construction going and demand strong.
In Alberta, it`s traditionally thought that inter-provincial migration has been the dominant source of new people. What shouldn`t be overlooked, however, is the impact that the boom had on how the average Albertan decided to cohabitate, especially among the younger generation.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Spring session to open with zero-budgeting bill
EDMONTON - A new Alberta law will force every government department to dismantle its budget and rebuild it from scratch, justifying each expense along the way.
The law, called the Results-Based Budgeting Act, could mean substantial restructuring of government service delivery, and critics warn it will usher in an era of privatization.
Read the full article here.
EDMONTON - A new Alberta law will force every government department to dismantle its budget and rebuild it from scratch, justifying each expense along the way.
The law, called the Results-Based Budgeting Act, could mean substantial restructuring of government service delivery, and critics warn it will usher in an era of privatization.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Natural gas as classic mismatch between supply and demand
You have to think natural gas producers are doing a pretty good duck imitation these days - calm on the surface, but madly paddling below the water to stay afloat.
Such is the story in a world where natural gas prices in Alberta are struggling to stay above $2 per gigajoule. While they managed to average $2.05/GJ in Tuesday's trading, the low for the day had - in financial lingo - a "one handle" in front of it and dipped to $1.99 during the day's trading.
Read the full article here.
You have to think natural gas producers are doing a pretty good duck imitation these days - calm on the surface, but madly paddling below the water to stay afloat.
Such is the story in a world where natural gas prices in Alberta are struggling to stay above $2 per gigajoule. While they managed to average $2.05/GJ in Tuesday's trading, the low for the day had - in financial lingo - a "one handle" in front of it and dipped to $1.99 during the day's trading.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Canadian job: It's oil sands all the time
Statistics Canada reported Friday that of the jobs created in January 65% were in Alberta.
The heart of Canada`s energy industry, Alberta`s unemployment rate remained at below 5% January, by a healthy margin the lowest in the country. The province created 79,500 jobs over the last year.
That compares with the national average that increased to 7.6% according to the latest stats and figures above 8% in Ontario and a whopping 13.5% in Newfoundland Labrador.
Read the full article here.
Statistics Canada reported Friday that of the jobs created in January 65% were in Alberta.
The heart of Canada`s energy industry, Alberta`s unemployment rate remained at below 5% January, by a healthy margin the lowest in the country. The province created 79,500 jobs over the last year.
That compares with the national average that increased to 7.6% according to the latest stats and figures above 8% in Ontario and a whopping 13.5% in Newfoundland Labrador.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Go West: Jobs and money leaving Eastern Canada
Canada's jobs market is mirroring the country's sharply divided economic landscape, as the resource-rich West hungers for workers while confidence falters among employers in the East.
The country's jobless rate hit a nine-month high of 7.6 per cent in January and job growth has stalled since last summer.
Behind the aggregate figures, though, a clear picture of the country's diverging economic fortunes emerges. Unemployment rates are higher than the national average in every province east of Manitoba, and below the average across the four western provinces.
"The attitudes that you see in the West are very different from Eastern or Central Canada," said Hilary Predy, Edmonton-based associate vice president at Adecco, one of the largest staffing firms in Canada.
Read the full article here.
Canada's jobs market is mirroring the country's sharply divided economic landscape, as the resource-rich West hungers for workers while confidence falters among employers in the East.
The country's jobless rate hit a nine-month high of 7.6 per cent in January and job growth has stalled since last summer.
Behind the aggregate figures, though, a clear picture of the country's diverging economic fortunes emerges. Unemployment rates are higher than the national average in every province east of Manitoba, and below the average across the four western provinces.
"The attitudes that you see in the West are very different from Eastern or Central Canada," said Hilary Predy, Edmonton-based associate vice president at Adecco, one of the largest staffing firms in Canada.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Calgary vacancy rates falling as economy picks up
CALGARY ` At the height of the last boom, finding an apartment in Calgary was a bit like winning the lottery.
With thousands of newcomers flooding into the city, streams of potential tenants would apply for the chance to put a roof over their heads. There were stories of dozens of people showing up for a single apartment, then desperately bidding on how much rent they`d be willing to pay.
The effect of the rental crunch rippled through the economy, from families to employers.
Read the full article here.
CALGARY ` At the height of the last boom, finding an apartment in Calgary was a bit like winning the lottery.
With thousands of newcomers flooding into the city, streams of potential tenants would apply for the chance to put a roof over their heads. There were stories of dozens of people showing up for a single apartment, then desperately bidding on how much rent they`d be willing to pay.
The effect of the rental crunch rippled through the economy, from families to employers.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Falling vacancy rates raise fears of another boom-time rental crunch in Calgary
At the height of the last boom, finding an apartment in Calgary was a bit like winning the lottery.
With thousands of newcomers flooding into the city, streams of potential tenants would apply for the chance to put a roof over their heads. There were stories of dozens of people showing up for a single apartment, then desperately bidding on how much rent they`d be willing to pay.
The effect of the rental crunch rippled through the economy, from families to employers.
Read the full article here.
At the height of the last boom, finding an apartment in Calgary was a bit like winning the lottery.
With thousands of newcomers flooding into the city, streams of potential tenants would apply for the chance to put a roof over their heads. There were stories of dozens of people showing up for a single apartment, then desperately bidding on how much rent they`d be willing to pay.
The effect of the rental crunch rippled through the economy, from families to employers.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Growth in Western provinces outpacing Ontario
OTTAWA ` Canada is growing and going west.
Statistics Canada counted 33,476,688 people in its May, 2011 census, a 5.9 per cent increase over the 2006 national count.
And Canada`s western provinces saw the biggest increases with Saskatchewan, Alberta and British Columbia all growing faster than the national average. Yukon saw the biggest population growth between 2006 and 2011 at 11.6 per cent, followed closely by Alberta at 10.8 per cent.
Cities in Western Canada like Calgary, Edmonton and Saskatoon saw double-digit jumps in population growth.
Read the full article here.
OTTAWA ` Canada is growing and going west.
Statistics Canada counted 33,476,688 people in its May, 2011 census, a 5.9 per cent increase over the 2006 national count.
And Canada`s western provinces saw the biggest increases with Saskatchewan, Alberta and British Columbia all growing faster than the national average. Yukon saw the biggest population growth between 2006 and 2011 at 11.6 per cent, followed closely by Alberta at 10.8 per cent.
Cities in Western Canada like Calgary, Edmonton and Saskatoon saw double-digit jumps in population growth.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Oilsands-fuelled boom sees census recording double-digit growth in Calgary
CALGARY ` The signs Canada`s population was shifting west were evident long before Statistics Canada released its 2011 census, and most of them read: Help Wanted.
Almost one-third of Canada`s 33.5 million citizens now live west of Ontario as the result of the shift in population that has largely been driven by job opportunities in the natural resource sector, particularly the oil and gas industry.
Read the full article here.
CALGARY ` The signs Canada`s population was shifting west were evident long before Statistics Canada released its 2011 census, and most of them read: Help Wanted.
Almost one-third of Canada`s 33.5 million citizens now live west of Ontario as the result of the shift in population that has largely been driven by job opportunities in the natural resource sector, particularly the oil and gas industry.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
West to 'reign supreme': TD
The most recent census figures highlighted what many Canadians have been whispering for years: the west reigns supreme. Between 2006 and 2011 Alberta's population grew at nearly double the pace of the national average and its two main cities -- Calgary and Edmonton -- were the fastest growing cities in the country.
Saskatchewan and Manitoba also fared well, with the population in both provinces growing faster than the national average.
Read the full article here.
The most recent census figures highlighted what many Canadians have been whispering for years: the west reigns supreme. Between 2006 and 2011 Alberta's population grew at nearly double the pace of the national average and its two main cities -- Calgary and Edmonton -- were the fastest growing cities in the country.
Saskatchewan and Manitoba also fared well, with the population in both provinces growing faster than the national average.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Budget predicts bitument bonanza
Fuelling the economy, Alberta`s oilsands are the darling of a 2013 boom budget presented to the Legislature on Thursday.
What a difference five years make. In 2008-2009, resource-based revenues took a plunge from almost $12 billion to less than $7 billion. In the grips of recession, Alberta lost 28,000 jobs.
In the interim years, the province`s return to prosperity paralleled resource-based revenues` return to the $11-million mark, with a relatively solid economic footing lodged squarely in the Lower Athabasca Region`s bounty.
Almost 4% growth is predicted in the budget for 2012, almost double the expected rate for Canada and the U.S. In June 2011, the buzzing Alberta economy created more new jobs than the entire U.S. in the same period. Alberta fielded about half of Canada`s total new job rolls.
Read the full article here.
Fuelling the economy, Alberta`s oilsands are the darling of a 2013 boom budget presented to the Legislature on Thursday.
What a difference five years make. In 2008-2009, resource-based revenues took a plunge from almost $12 billion to less than $7 billion. In the grips of recession, Alberta lost 28,000 jobs.
In the interim years, the province`s return to prosperity paralleled resource-based revenues` return to the $11-million mark, with a relatively solid economic footing lodged squarely in the Lower Athabasca Region`s bounty.
Almost 4% growth is predicted in the budget for 2012, almost double the expected rate for Canada and the U.S. In June 2011, the buzzing Alberta economy created more new jobs than the entire U.S. in the same period. Alberta fielded about half of Canada`s total new job rolls.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Oil-rich Alberta says provincial deficit to fall
CALGARY, Alberta (Reuters) - The Canadian province of Alberta, the largest oil exporter to the United States, said on Thursday it expects to post a smaller budget deficit in the upcoming fiscal year as economic growth boosts revenue from taxes.
The first budget under new Premier Alison Redford, expected to be the basis of her Progressive Conservative party's platform for a spring election, called for a deficit of C$886 million ($886 million) for the 2012-13 fiscal year that begins April 1, down from a forecast C$1.32 billion shortfall for the current year.
Read the full article here.
CALGARY, Alberta (Reuters) - The Canadian province of Alberta, the largest oil exporter to the United States, said on Thursday it expects to post a smaller budget deficit in the upcoming fiscal year as economic growth boosts revenue from taxes.
The first budget under new Premier Alison Redford, expected to be the basis of her Progressive Conservative party's platform for a spring election, called for a deficit of C$886 million ($886 million) for the 2012-13 fiscal year that begins April 1, down from a forecast C$1.32 billion shortfall for the current year.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Oilsands shutdown could squeeze GDP growth, says CIBC report
TORONTO - Canadian economic growth could be shaved by a third of a percentage point in the current quarter by the shutdown of a major oilsands project in northern Alberta, says an economic report by CIBC.
The big bank said Thursday the gross domestic product for the January-March first quarter could be "negatively impacted" by the shutdown of the Horizon mine and refining upgrader.
Read the full article here.
TORONTO - Canadian economic growth could be shaved by a third of a percentage point in the current quarter by the shutdown of a major oilsands project in northern Alberta, says an economic report by CIBC.
The big bank said Thursday the gross domestic product for the January-March first quarter could be "negatively impacted" by the shutdown of the Horizon mine and refining upgrader.
Read the full article here.