Monday, September 12, 2011

Alberta Leads Canadian Economy

3.7% hike forecast for this year

"CALGARY — Alberta is positioned as one of Canada’s provincial leaders in growth, according to the latest RBC Economics Provincial Outlook report released Monday.
The provincial economy is set to grow at a rate of 3.7 per cent in 2011 and 3.9 per cent in 2012, said RBC. Both years Alberta will be second overall in the country behind nation-leading Saskatchewan’s growth rates of 4.3 per cent this year and 4.1 per cent next year. "

This has had a positive impact on employment, as more than 77,000 jobs were added to the Alberta economy in the first eight months of this year, which was the strongest gain ever recorded over this period in the province.” That's like adding two Moose Jaw Saskatchewan cities to the population at the beginning of the year! One of the major headaches the oil patch is struggling with now is employment - not having enough people. With varied hiring tactics, the energy sector hopes to diminish the approaching labour crunch - let's hope they succeed."

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