2017 Full of Economic Growth Across Alberta

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2017 Full of Economic Growth Across Alberta

The provincial government is looking back at 2017 as a year full of economic growth.

Over the past 12 months, many positives happened helped Alberta end the year with the highest growing economy across Canada.

On Thursday, the NDP’s highlighted some of the year’s successes which included added thousands of full-time jobs and lowering the unemployment rate.

According to Statistics Canada, just under 30,000 Albertans found work in 2017 – lowering the unemployment rate to 6.8 per cent, lowest it’s been since December 2015.

The government says the average weekly salary also increased to $1,142, the highest in the country.

"Alberta began the year gripped by the recession, but we're ending the year as the fastest-growing economy in the country,” said Deron Bilous, Minister of Economic Development and Trade.

“We have more work to do, but it is clear: Alberta is moving forward. All credit goes to the resilient, hard-working and entrepreneurial people of Alberta. By working together we can continue to create new jobs and a more resilient and diversified economy for Alberta families."

They add in the last three months, the province’s population increased by around 20,000 which saw housing starts rise by 20 per cent when compared to 2016.

The increasing number of people may also be helping different sectors with Alberta’s manufacturing seeing increased sales by 14.2 per cent – rising to $6.02 billion.

Meanwhile, one of the biggest reasons for the improved economy is the stability of oil prices. Crude oil is closing in on $60 per barrel with some experts believing it could continue to rise across 2018.
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