June 2013 Alberta Economic Fundamentals

[REIN]

Calgary top contributor in national advance for new home prices




CALGARY ` For the third straight month, Calgary was the top contributor in April to the national advance for new home prices.




Statistics Canada reported Thursday that its New Housing Price Index rose by 0.5 per cent in Calgary for the month and by 0.2 per cent across the country.





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[REIN]

BC, Alberta working together to create jobs




KELOWNA - Meeting on areas of common interest on economic growth and job creation, British Columbia Premier Christy Clark and Alberta Premier Alison Redford agreed to work together for the benefit of British Columbians and Albertans.







"Both Alberta and British Columbia benefit when we work together to grow the economy and create jobs," said Premier Clark. "As the economic powerhouses of Canada, it's in the national interest for us to succeed."





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[REIN]

Western premiers have doubts on Redford's energy plans





WINNIPEG ` Provinces are increasingly working together on energy initiatives, say premiers, but Premier Alison Redford`s signature plan for a Canadian energy strategy faces more questions than ever.




At Monday`s Western Premiers` Conference, British Columbia`s Christy Clark said she still isn`t prepared to sign on with the other provinces in developing the strategy, which Redford has described as provinces working together to develop resources and open new markets.




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[REIN]

Alberta unemployment to job vacancy ratio rises





CALGARY ` Alberta`s unemployment to job vacancies ratio went up in March, from 1.8 to 2.3, as the number of job vacancies fell faster than the number of unemployed people, said Statistics Canada.




Despite the increase in Alberta`s ratio, it remains among the lowest of all provinces, second only to Saskatchewan`s 1.9 ratio, reported the federal agency on Tuesday.





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[REIN]

Northern Gateway is in the best interest of all Canadians, company tells review board




TERRACE, B.C. ` A lawyer for the Northern Gateway oil pipeline told a federal review panel Monday that there are many reasons the controversial project should be approved ` billions of them, in fact.




In final arguments to the federal panel reviewing the project, Richard Neufeld stressed that the pipeline between Alberta and the B.C. coast will ensure Canadian producers get full market value for their product.





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[REIN]

High salary expectations tough for smaller Alberta businesses




CALGARY ` Many smaller businesses in Alberta are having a tough time meeting the salary demands of workers, says ATB Financial.




In its second quarter Business Beat Survey, the institution said the fact that Alberta workers earn the highest incomes in Canada is putting pressure on the province`s small- and mid-sized business owners and operators.





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[REIN]

Alberta home sales expected to rise: CREA






Alberta is one of only two provinces that will see a rise in home sales this year, according to the Canadian Real Estate Association (CREA.)




The industry group representing Canadian realtors reported Alberta and Prince Edward Island will see an increase in the number of home sales, while other provinces will continue to see declines in 2013 compared to last year.





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[REIN]

Alberta economy to be Canadian growth leader over next 2 years





CALGARY ` Alberta`s economy is positioned to grow at the top-end of Canada`s provincial economic growth rankings in 2013 and lead the country in 2014, says a new report released Wednesday by RBC Economics.





The Provincial Outlook forecasts provincial real GDP growth of 3.0 per cent this year, down from 3.8 per cent in 2012, which was the best in Canada. This year`s economic growth in Alberta will be second in the country only to Newfoundland & Labrador`s 6.0 per cent hike.







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[REIN]

Apartment vacancy in Alberta is down, says CMHC





Apartment vacancy in Alberta has declined, according to a new report from the Canada Mortgage and Housing Corporation (CMHC).




The average apartment vacancy rate in Alberta`s urban centres was 1.5 per cent in April 2013, down from 3.0 per cent in the previous year.





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[REIN]

Calgary rental apartment vacancy rate lowest in Canada




CALGARY ` Calgary`s rental apartment vacancy rate is the lowest in the country with average monthly rents increasing the highest, according to Canada Mortgage and Housing Corp.




In its spring Rental Market Survey released Thursday, the agency said Calgary and Edmonton had the lowest vacancy rates in Canada in April at 1.2 per cent followed by St. John`s (1.5 per cent).



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[REIN]

Calgary floods to cost economy billions




Economists say flooding in Alberta will cost Calgary`s economy billions of dollars and affect the Canadian economy as a whole.




Although the precise economic damage caused by the flooding is hard to measure, economists say it will be widespread and long-lasting.




One estimate from BMO Capital Markets is that Canada's GDP will be reduced by $2 billion as a direct result of the floods.





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[REIN]

Alberta has highest average weekly earning in Canada




CALGARY ` Alberta continued to have the highest average weekly earnings of non-farm payroll employees among all provinces in April.




Statistics Canada reported Thursday that earnings in the province were flat in April compared with the previous month and remained at $1,098.36. Year-over-year, they rose by 3.4 per cent.





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[REIN]

Calgary floods will have ripple effect on housing market




EDMONTON - Calgary`s disastrous flood is expected to skew the provincial and even national housing sales numbers for months to come.




So says real-estate investment guru Don Campbell, who worries that a stream of wonky data could trigger a follow-up deluge of scary news headlines.





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