May 2011 Alberta Economic Fundamentals
- Thread starter Ally
- Start date
- Joined
- Mar 24, 2009
- Messages
- 16,743
Alberta targets mature workers to combat future labour shortage
EDMONTON - The Alberta government wants aging workers to put off retirement instead of putting golf balls as a way to stave off a looming labour shortage.
Employment and Immigration Minister Thomas Lukaszuk released Wednesday a strategy aimed at encouraging more mature workers to stay on the job.
It`s one way to avert the worker, skills and knowledge crunch expected when the forecasted economic upturn crashes into Alberta`s aging population.
`We`re walking into a perfect storm,` Lukaszuk said, after announcing the report Engaging the Mature Worker: An Action Plan for Alberta at a human resources conference.
Read the full article here.
EDMONTON - The Alberta government wants aging workers to put off retirement instead of putting golf balls as a way to stave off a looming labour shortage.
Employment and Immigration Minister Thomas Lukaszuk released Wednesday a strategy aimed at encouraging more mature workers to stay on the job.
It`s one way to avert the worker, skills and knowledge crunch expected when the forecasted economic upturn crashes into Alberta`s aging population.
`We`re walking into a perfect storm,` Lukaszuk said, after announcing the report Engaging the Mature Worker: An Action Plan for Alberta at a human resources conference.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Jobs available for aboriginals willing to move: Lobbyist
EDMONTON - A looming labour shortage in the oilsands offers urban aboriginals a great opportunity, if they`re willing to move to Fort McMurray, say business leaders.
`We now have 105 firms in the Northeastern Alberta Aboriginal Business Association, and when I started it up 18 years ago we had eight,` said Dave Tuccaro, a successful entrepreneur with five firms ` from financial services to construction ` under his banner.
`But aboriginal firms have to come up to Fort McMurray. We need you up there ` you can`t be a member of NABA and be here in Edmonton,` he said Wednesday at an event sponsored by the Canadian Council for Aboriginal Business.
Read the full article here.
EDMONTON - A looming labour shortage in the oilsands offers urban aboriginals a great opportunity, if they`re willing to move to Fort McMurray, say business leaders.
`We now have 105 firms in the Northeastern Alberta Aboriginal Business Association, and when I started it up 18 years ago we had eight,` said Dave Tuccaro, a successful entrepreneur with five firms ` from financial services to construction ` under his banner.
`But aboriginal firms have to come up to Fort McMurray. We need you up there ` you can`t be a member of NABA and be here in Edmonton,` he said Wednesday at an event sponsored by the Canadian Council for Aboriginal Business.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Alberta economy bounces back in 2010
CALGARY ` Alberta`s economy grew by the second fastest pace among provinces in the country last year.
Statistics Canada reported Thursday that the province`s GDP increased by 4.0 per cent in 2010 behind only Newfoundland and Labrador`s nation-leading growth of 4.8 per cent.
`In Alberta, GDP increased by 4.0 per cent in 2010 after contracting by 4.8 per cent in 2009,` said the federal agency. `Strengthening energy prices led to increases in support activities for mining and oil and gas extraction. Manufacturing and crop production also advanced.
`Crop production increased significantly as Alberta experienced more favourable weather than its Prairie neighbours. Gains in residential and electric power engineering construction were partly offset by declines in non-residential construction and oil and gas engineering construction. Oil and gas extraction increased by 0.7 per cent.`
Read the full article here.
CALGARY ` Alberta`s economy grew by the second fastest pace among provinces in the country last year.
Statistics Canada reported Thursday that the province`s GDP increased by 4.0 per cent in 2010 behind only Newfoundland and Labrador`s nation-leading growth of 4.8 per cent.
`In Alberta, GDP increased by 4.0 per cent in 2010 after contracting by 4.8 per cent in 2009,` said the federal agency. `Strengthening energy prices led to increases in support activities for mining and oil and gas extraction. Manufacturing and crop production also advanced.
`Crop production increased significantly as Alberta experienced more favourable weather than its Prairie neighbours. Gains in residential and electric power engineering construction were partly offset by declines in non-residential construction and oil and gas engineering construction. Oil and gas extraction increased by 0.7 per cent.`
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Albertans lead country in average weekly earnings hike
CALGARY ` Average weekly earnings of non-farm payroll employees in Alberta rose by the biggest rate year-over-year in the country in February, according to Statistics Canada.
The federal agency said Thursday that the average was $1,037.98 for the province, up 6.7 per cent from February 2010. It was also up by 1.2 per cent from the previous month.
Across Canada, between February 2010 and February 2011, average weekly earnings of non-farm payroll employees rose by 4.0 per cent to $874.83. That was also up by 0.2 per cent from the previous month.
Read the full article here.
CALGARY ` Average weekly earnings of non-farm payroll employees in Alberta rose by the biggest rate year-over-year in the country in February, according to Statistics Canada.
The federal agency said Thursday that the average was $1,037.98 for the province, up 6.7 per cent from February 2010. It was also up by 1.2 per cent from the previous month.
Across Canada, between February 2010 and February 2011, average weekly earnings of non-farm payroll employees rose by 4.0 per cent to $874.83. That was also up by 0.2 per cent from the previous month.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Oilpatch activity forecast to rise slightly
CALGARY ` The level of oil and gas activity in Western Canada is expected to increase slightly in 2011, held back from roaring ahead due to ongoing labour and rig shortages, according to an industry association;
New wells drilled are expected to reach 12,950 this year, up about 200 from a January forecast, said the Petroleum Services Association of Canada Wednesday.
Alberta, the centre of oil and gas drilling in Canada, will see the bulk of the increase on surging crude prices,
Read the full article here.
CALGARY ` The level of oil and gas activity in Western Canada is expected to increase slightly in 2011, held back from roaring ahead due to ongoing labour and rig shortages, according to an industry association;
New wells drilled are expected to reach 12,950 this year, up about 200 from a January forecast, said the Petroleum Services Association of Canada Wednesday.
Alberta, the centre of oil and gas drilling in Canada, will see the bulk of the increase on surging crude prices,
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Cenovus moving quickly on oilsands projects
Cenovus Energy Inc. (CVE-T36.470.090.25%) is boosting its spending to capitalize on the success of some of Alberta`s hottest new plays, another signal that strong oil prices are bringing forth a surge of investment.
The company is pouring an extra $190-million this year into increasing the flow from some of its lesser-known crude assets. Of that, $110-million will go toward its Pelican Lake heavy oil operations and $50-million toward its Lower Shaunavon holdings, in a so-called `tight oil` reservoir similar to the Bakken play that has brought vast new volumes of oil to the surface.
Read the full article here.
Cenovus Energy Inc. (CVE-T36.470.090.25%) is boosting its spending to capitalize on the success of some of Alberta`s hottest new plays, another signal that strong oil prices are bringing forth a surge of investment.
The company is pouring an extra $190-million this year into increasing the flow from some of its lesser-known crude assets. Of that, $110-million will go toward its Pelican Lake heavy oil operations and $50-million toward its Lower Shaunavon holdings, in a so-called `tight oil` reservoir similar to the Bakken play that has brought vast new volumes of oil to the surface.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Alberta head for 'perfect storm' in employment shortages: Employment minister
EDMONTON - Employment Minister Thomas Lukaszuk says Alberta is headed into a perfect storm of conditions that will result in a shortfall of more than 77,000 workers within the next decade.
Lukaszuk says the province`s low birthrate, burgeoning economy and anticipated baby boomer retirements will result in a labour shortage that will affect all businesses if ways are not found to keep `mature workers` ` over age 55 ` working longer.
`We`re walking into a perfect storm. (The year) 2011 is the first year in which officially baby boomers are turning 65, so we`re looking at a large exodus of workers ` not only in numbers, but in experience,` he told reporters after releasing the province`s aging workforce strategy before 800 delegates at a human resources conference at Edmonton`s Shaw Conference Centre on Wednesday.
Read the full article here.
EDMONTON - Employment Minister Thomas Lukaszuk says Alberta is headed into a perfect storm of conditions that will result in a shortfall of more than 77,000 workers within the next decade.
Lukaszuk says the province`s low birthrate, burgeoning economy and anticipated baby boomer retirements will result in a labour shortage that will affect all businesses if ways are not found to keep `mature workers` ` over age 55 ` working longer.
`We`re walking into a perfect storm. (The year) 2011 is the first year in which officially baby boomers are turning 65, so we`re looking at a large exodus of workers ` not only in numbers, but in experience,` he told reporters after releasing the province`s aging workforce strategy before 800 delegates at a human resources conference at Edmonton`s Shaw Conference Centre on Wednesday.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Land deals bode well for Calgary's East Village
I've been interested in this city's development long enough to have lived through a number of plans made for some dramatic changes to the area behind City Hall known as East Village.
All petered out, so I am pretty excited at the advancement being made by the Calgary Municipal Land Corp. and the current interest by developers in investing in what should result in being a terrific new residential, cultural and business district.
Two significant land deals were signed recently with Bosa/Embassy of Vancouver and Ontario-based FRAM+Slokker Real Estate Group to build condominium complexes and the Calgary Police Association (CPA) has now put its land up for sale, which should attract more investment into the area.
Read the full article here.
I've been interested in this city's development long enough to have lived through a number of plans made for some dramatic changes to the area behind City Hall known as East Village.
All petered out, so I am pretty excited at the advancement being made by the Calgary Municipal Land Corp. and the current interest by developers in investing in what should result in being a terrific new residential, cultural and business district.
Two significant land deals were signed recently with Bosa/Embassy of Vancouver and Ontario-based FRAM+Slokker Real Estate Group to build condominium complexes and the Calgary Police Association (CPA) has now put its land up for sale, which should attract more investment into the area.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Future looks bright for Sunrise oilsands project
EDMONTON - Alberta`s newest large oilsands project is quietly progressing, with seven wells now completed on the site 60 kilometres northeast of Fort McMurray and major supply contracts recently signed.
A joint venture between Husky Energy and BP PLC, the $2.5-billion Sunrise project was approved by the two firms in 2010 and expects to be producing 60,000 barrels per day by 2014 using SAGD (steam assisted gravity drainage), drawing water from deep brine deposits rather than the surface, and recycling 90 per cent of the water used.
In a conference call, Husky`s chief operating officer Rob Peabody said the well logs are showing the richness of the site `is in line with our expectations.` Husky believes the bitumen area contains a potential of 3.7 billion barrels of oil.
Read the full article here.
EDMONTON - Alberta`s newest large oilsands project is quietly progressing, with seven wells now completed on the site 60 kilometres northeast of Fort McMurray and major supply contracts recently signed.
A joint venture between Husky Energy and BP PLC, the $2.5-billion Sunrise project was approved by the two firms in 2010 and expects to be producing 60,000 barrels per day by 2014 using SAGD (steam assisted gravity drainage), drawing water from deep brine deposits rather than the surface, and recycling 90 per cent of the water used.
In a conference call, Husky`s chief operating officer Rob Peabody said the well logs are showing the richness of the site `is in line with our expectations.` Husky believes the bitumen area contains a potential of 3.7 billion barrels of oil.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
An Edmonton institution gets its mojo back
Chalk one up for Bob Gomes.
When I sat down with Stantec's affable CEO a year ago, after his first 12 months at the helm, the consulting giant's critics were growing louder.
Pounded by recession and a horrible U.S. housing market that had decimated its urban-land (mainly subdivision-planning) division, Stantec was in a bit of a funk.
The 57-year-old firm hadn't completed a major acquisition in more than a year, its formerly high-flying shares were sputtering, and its oncesteady earnings growth had hit a brick wall.
Read the full article here.
Chalk one up for Bob Gomes.
When I sat down with Stantec's affable CEO a year ago, after his first 12 months at the helm, the consulting giant's critics were growing louder.
Pounded by recession and a horrible U.S. housing market that had decimated its urban-land (mainly subdivision-planning) division, Stantec was in a bit of a funk.
The 57-year-old firm hadn't completed a major acquisition in more than a year, its formerly high-flying shares were sputtering, and its oncesteady earnings growth had hit a brick wall.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Red Deer tax hike proposed at 3.9%
Red Deer residential property owners are facing a property tax increase of 3.9 per cent if city council gives its stamp of approval on Monday.
Council is expected to give three readings to a tax rate bylaw, that if passed, would pave the way for tax notices to go out on or around May 28.
City of Red Deer administration is recommending an option that would see different tax increases, depending on the type of property.
Read the full article here.
Red Deer residential property owners are facing a property tax increase of 3.9 per cent if city council gives its stamp of approval on Monday.
Council is expected to give three readings to a tax rate bylaw, that if passed, would pave the way for tax notices to go out on or around May 28.
City of Red Deer administration is recommending an option that would see different tax increases, depending on the type of property.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
5 groups interested in Red Deer industrial park
Red Deer`s Land and Economic Development manager is pleased with the interest shown in the city`s newest industrial park.
The city began accepting proposals for development in Queens Business Park last month. Up for grabs are approximately 103 acres of industrial land and five acres of commercial land in the first phase of the 289-acre parcel west of Hwy 2 and south of Hwy 11A.
Howard Thompson said the proposals received to date have been good ones, both in terms of the quantity of land sought and the quality of the development proposed. He said he could not elaborate at this time, but added that the city is in discussions with five different groups.
Read the full article here.
Red Deer`s Land and Economic Development manager is pleased with the interest shown in the city`s newest industrial park.
The city began accepting proposals for development in Queens Business Park last month. Up for grabs are approximately 103 acres of industrial land and five acres of commercial land in the first phase of the 289-acre parcel west of Hwy 2 and south of Hwy 11A.
Howard Thompson said the proposals received to date have been good ones, both in terms of the quantity of land sought and the quality of the development proposed. He said he could not elaborate at this time, but added that the city is in discussions with five different groups.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Drilling forecast revised upwards
The Petroleum Services Association of Canada has nudged upward its estimate of the number of wells that will be drilled in Canada this year.
The industry trade association ` which represents more than 255 service, supply and manufacturing companies in the upstream petroleum sector ` announced on Wednesday that it is now forecasting a well count of 12,950 for 2011. That`s up from earlier predictions of 12,750 and 12,250, issued by PSAC in January and last November respectively.
`The level of drilling activity is a good sign of what`s going on in terms of recovery from the economic downturn,` said Mark Salkeld, PSAC`s president and CEO, in a news release.
Read the full article here.
The Petroleum Services Association of Canada has nudged upward its estimate of the number of wells that will be drilled in Canada this year.
The industry trade association ` which represents more than 255 service, supply and manufacturing companies in the upstream petroleum sector ` announced on Wednesday that it is now forecasting a well count of 12,950 for 2011. That`s up from earlier predictions of 12,750 and 12,250, issued by PSAC in January and last November respectively.
`The level of drilling activity is a good sign of what`s going on in terms of recovery from the economic downturn,` said Mark Salkeld, PSAC`s president and CEO, in a news release.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Edmonton housing market well-balanced: Able to meet reasonable expectations
Edmonton, May 3, 2011: According to the REALTORSÂ Association of Edmonton, the average price of housing remained relatively stable through April as compared to the previous month. The all-residential average price decreased $310 to $327,415; down from $327,725 in March. Single family home prices decreased $425 while condo prices rose $1,305 (0.6%) during the month. Despite the activity the market is balanced without a distinct advantage for either buyer or seller.
`Prices and sales usually increase in the second quarter and REALTORSÂ are busy serving new and repeat customers,` explained REALTORSÂ Association of Edmonton President Chris Mooney. `The increase in new listings means that there is a good selection of homes to choose from. However, the market is still price sensitive and sellers will have to have a realistic pricing strategy if they are expecting a quick sale.`
Residential sales were 1,487 down 7.8%; compared to 1,613 in March. Residential listing activity rose from 2,958 units in March to 3,278 units in April. Inventory of homes on the Multiple Listing Service increased from 6,885 last month to 7,215 as of April 30.
Read the full article here.
Edmonton, May 3, 2011: According to the REALTORSÂ Association of Edmonton, the average price of housing remained relatively stable through April as compared to the previous month. The all-residential average price decreased $310 to $327,415; down from $327,725 in March. Single family home prices decreased $425 while condo prices rose $1,305 (0.6%) during the month. Despite the activity the market is balanced without a distinct advantage for either buyer or seller.
`Prices and sales usually increase in the second quarter and REALTORSÂ are busy serving new and repeat customers,` explained REALTORSÂ Association of Edmonton President Chris Mooney. `The increase in new listings means that there is a good selection of homes to choose from. However, the market is still price sensitive and sellers will have to have a realistic pricing strategy if they are expecting a quick sale.`
Residential sales were 1,487 down 7.8%; compared to 1,613 in March. Residential listing activity rose from 2,958 units in March to 3,278 units in April. Inventory of homes on the Multiple Listing Service increased from 6,885 last month to 7,215 as of April 30.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Calgary downtown could see more office towers in the future
CALGARY ` A strong downtown office leasing market may spark developers to pursue additional projects with the completion of the Bow and Eighth Avenue Place towers.
`If history is an indication of the future with the class AA/A market at 7.09 per cent (vacancy) and decreasing, there very well may be developers downtown dusting off their plans for additional buildings as we head into another tight market for quality product over the next few years,` says a downtown office market report by CresaPartners.
The most likely candidates for new developments are included a second tower at EAP, a smaller office tower as part of the Bow project as well as several other downtown projects.
Read the full article here.
CALGARY ` A strong downtown office leasing market may spark developers to pursue additional projects with the completion of the Bow and Eighth Avenue Place towers.
`If history is an indication of the future with the class AA/A market at 7.09 per cent (vacancy) and decreasing, there very well may be developers downtown dusting off their plans for additional buildings as we head into another tight market for quality product over the next few years,` says a downtown office market report by CresaPartners.
The most likely candidates for new developments are included a second tower at EAP, a smaller office tower as part of the Bow project as well as several other downtown projects.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Opening of new Edmonton-area power plant delayed three months
EDMONTON - Capital Power says the opening date for its 495-MW Keephills 3 high-tech coal power plant has been pushed back by three months because cleaning of the boilers has taken more time than expected.
The plant had been scheduled to open in late June, but will now open in late September, Capital`s chief executive, Brian Vaasjo, said after the company`s annual general meeting on Friday.
`We are doing a steam blow where you actually are cleaning out the boilers, Vaasjo said. `We and Hitachi are going for a very clean standard, and it has taken significantly longer than we thought.
Read the full article here.
EDMONTON - Capital Power says the opening date for its 495-MW Keephills 3 high-tech coal power plant has been pushed back by three months because cleaning of the boilers has taken more time than expected.
The plant had been scheduled to open in late June, but will now open in late September, Capital`s chief executive, Brian Vaasjo, said after the company`s annual general meeting on Friday.
`We are doing a steam blow where you actually are cleaning out the boilers, Vaasjo said. `We and Hitachi are going for a very clean standard, and it has taken significantly longer than we thought.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Wildorse plea to Quebec: Get off your dependence
A couple of weeks ago, Danielle Smith, leader of Albert`s conservative Wildrose Alliance, delivered an eloquent, impassioned speech in Montreal ` completely in English (`I would speak to you in French if I could`) ` in praise of the entrepreneurial, enterprising Quebec that used to exist. Among other things, she chided Quebec for its voluntary descent into economic dependence ` on the very federal government it has long purported to repudiate.
Read the full article here.
A couple of weeks ago, Danielle Smith, leader of Albert`s conservative Wildrose Alliance, delivered an eloquent, impassioned speech in Montreal ` completely in English (`I would speak to you in French if I could`) ` in praise of the entrepreneurial, enterprising Quebec that used to exist. Among other things, she chided Quebec for its voluntary descent into economic dependence ` on the very federal government it has long purported to repudiate.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
'Fracking' starts to bring on legal challenges
A controversial method of drilling for natural gas that has revolutionized the industry is confronting a growing backlash across North America, and the fast-spreading technique faces a legal test in Canada`s oil and gas heartland.
In the latest sign that pressure against the practice, known as `fracking,` is mounting, a Southern Alberta woman filed a $33-million lawsuit alleging that nearby drilling by Encana Corp. (ECA-T31.08-0.25-0.80%)is responsible for contaminating her water with enough methane that it can be lit on fire.
Read the full article here.
A controversial method of drilling for natural gas that has revolutionized the industry is confronting a growing backlash across North America, and the fast-spreading technique faces a legal test in Canada`s oil and gas heartland.
In the latest sign that pressure against the practice, known as `fracking,` is mounting, a Southern Alberta woman filed a $33-million lawsuit alleging that nearby drilling by Encana Corp. (ECA-T31.08-0.25-0.80%)is responsible for contaminating her water with enough methane that it can be lit on fire.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Suncor steps on the gas
EDMONTON - Awash in cash with an operating profit that rose fourfold for the first three months of 2011 compared with the same period of 2010, Suncor Energy hinted Tuesday that it will speed up its major oilsands projects where possible.
That means a prompt restart for work on the half-built Voyageur upgrader, which will be completed under a joint-venture deal with French oil giant Total.
It means moving ahead on engineering and planning for its Fort Hills mine project, and if possible quickening the move to open the new North Steepbank mine, which offers more efficient ore trucking than the huge and expanding Millenium mine.
Read the full article here.
EDMONTON - Awash in cash with an operating profit that rose fourfold for the first three months of 2011 compared with the same period of 2010, Suncor Energy hinted Tuesday that it will speed up its major oilsands projects where possible.
That means a prompt restart for work on the half-built Voyageur upgrader, which will be completed under a joint-venture deal with French oil giant Total.
It means moving ahead on engineering and planning for its Fort Hills mine project, and if possible quickening the move to open the new North Steepbank mine, which offers more efficient ore trucking than the huge and expanding Millenium mine.
Read the full article here.