To: SFA
Fr: Calgary PCG
Rt: OAA, OUIER, PISU
Cc: Ottawa PE, Vancouver PCG, Toronto PCG
Re: Annual Government of Alberta briefing for Consular Corps
and other Representatives, 5 October 2017
Dt: 6 October 2017
Cn:
I wish to report that I attended the Annual Government of Alberta briefing for the Consular Corps and other representatives on 5 October 2017. The gathering, hosted by Honourable Deron Bilous , Member of the Legislative Assembly and Minister of Economic Development and Trade, was attended by career consular corps from Calgary and Vancouver plus honorary consuls from Calgary and Edmonton. The program of the briefing is attached for reference.
Briefings and presentations were made on the state of Alberta’s economy, and labour and health initiatives. Following are highlights:
Economy
Some of Canada’s most respected economic experts are forecasting that Alberta will lead the country in economic growth for the next two years. This summer, the Royal Bank of Canada (RBC) pegged GDP growth at 4.2 % this year - far higher than Alberta’s average growth rate of 2.6% between 2005 and 2015. RBC’s reports cited Alberta’s historic infrastructure build and increased investor confidence that comes with pipeline approvals, as contributing factors to Alberta’s economic recovery.
While Albertans have no control over world oil prices, strategic investments from government and industry have helped cushion the blow and stimulate growth.
There were nearly 49,000 more jobs in Alberta this summer than in summer 2016. Alberta has the highest employment rate of 66.6%, higher than the national average of 61.4% as of August 2017.
Alberta also continues to have the highest employment rate in the country and the highest weekly earnings averaging at CAD 1,120 (including overtime) as of July 2017 (higher than the national average of CAD 972). In 2016, farmers’ net cash income reached a record of CAD 3.5 billion.
Alberta consumer spending is up, with retail sales of CAD 6.8B in July 2017 – higher than the pre-recession peak of CAD 6.7B seen in October 2014.
In 2016, private sector investment in Alberta was 2.5 times higher than the Canadian average. Alberta is on track to lead the country again this year by a wide margin.
In the first seven months of 2017:
o goods exports are up 40% to $59 billion, compared to the same period in 2016.