April 30, 2024

Episode #120: The Brief: Alberta’s Economy Leads in Growth, But Headwinds Remain

Alberta has seen the strongest employment growth of all large provinces, but while resilient, Alberta has not escaped weak expectations globally or nationally. The labour market is softening, unemployment has ticked up, and Albertans are still feeling the impact of inflation and interest rates, with less than half feeling good about their finances.

Despite this, Alberta businesses are among the most optimistic in the country, and they intend to continue to spend on capital this year. Further, Alberta is attracting a larger share of venture capital dollars, despite a national dip in overall investment.

On this episode, we’re back with BCA’s economics team, Mike Holden and Alicia Planincic, to break down the Spring 2024 update of the Alberta Snapshot, an all-points summary of Alberta’s economy.

We look at the labour market and employment, check up on consumer spending and general affordability, and discuss business expectations and the state of the economy. We also look ahead at indicators to watch and ruminate on what we hope is to come.

In this episode:

  • Alberta’s economy heading into 2024
  • Updates on employment growth and the labour market
  • Labour market trends in different regions of the province
  • Economic effects on business versus personal
  • Changes in retail spending habits
  • Update on the state of inflation, interest rates, and household debt
  • Business expectations & capital investment
  • Venture capital and the provincial technology scene
  • Predictions for the remainder of 2024
  • Lighting round

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
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