July 25, 2023

Episode #101: The Brief: Summer Economic Update on Alberta’s Economy

Since our previous update, the hottest headline has been interest rates and the Bank of Canada’s decisions to continue to increase rates to bring inflation down as quickly as possible. However, these interest rate decisions have been taking their toll on Albertans.

While wages have finally grown more than prices, more Albertans are grappling with high debt-to-income ratios, increased housing costs, and insolvencies. In recent months, Albertans now feel the economy is getting worse, despite growth in many areas.

In this episode, we look at growth in employment, Alberta’s population, and overall wages, discuss results from our latest Business Expectations Survey, and check in on the spending habits of Albertans and Canadians.

In this episode:

  • Reflections on 100 episodes of AlbertaBETTER
  • Broad update on the Alberta economy
  • Big news from Alberta’s labour market
  • Growth in the province
    • Employment growth
    • Population growth
    • Wage growth
  • BCA’s Business Expectations Survey Results
  • Investment in Alberta
  • Consumer retail spending changes
  • A deeper dive into population growth
  • Global forces impacting Alberta’s economy
  • Federal policy versus central bank decisions.
  • Understanding the GEP Global Supply Chain Volatility Index
  • Not-so-lightning round on Alberta’s economic future

Resources mentioned:

About The Brief

In this series, co-hosts Scott Crockatt and Brittany Brander explore the big challenges we face as Albertans; celebrate stories of growth, innovation, and prosperity; and discover bold ideas to make life better for Albertans.

Check us out on social media

Twitter: @BizCouncilAB
Facebook: @BizCouncilAB
LinkedIn: @businesscouncilofalberta
YouTube: Business Council of Alberta

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