Alberta’s Economy Improving
By Iris Evans MLA’s Report
Alberta’ economy continues to improve and workers from other provinces are demonstrating their confidence in Alberta by moving here.
In the first three months of 2011, Alberta attracted 5,275 net migrants from other provinces. That means the number of people who moved here from another province exceeded the number moving in the opposite direction by 5,275.
Alberta’s economy grew by 3.8 per cent in 2010, but even more impressive are the job numbers released earlier this month.
In June alone, Alberta added 22,000 new jobs — more than were created in the entire United States during the same month. While this is a one-month snapshot, the number of jobs gained in June is undeniably good news.
There are many other positive economic
indicators:
• New business start-ups: over the January-to-May 2011 period, the number of business incorporations increased by 13.9 per cent from the same period last year.
• Business bankruptcies in January to April 2011 are down 33.1 per cent from the same period last year. Consumer bankruptcies fell 10.8 per cent.
• Retail sales were 7.4 per cent higher in April 2011 than in April 2010.
• Construction activity in the non-residential sector is picking up — the value of non-residential building permits in May rose 52.8 per cent compared to the same month one year ago.
• Drilling activity: the average number of drilling rigs working in Alberta over the first six months of 2011 was 252, up 40 per cent over the first half of 2010.
While Alberta is heading in the right direction, there is still a lot of uncertainty in the global economy, especially in Europe and the United States. Given Alberta is a major exporter, we must temper our optimism with a healthy dose of prudence.
The Alberta government will stick to its plan, watching our spending, investing in infrastructure, keeping taxes low and improving Alberta’s
competitiveness.
At the same time, we’ll continue to support priorities important to Albertans.
For all the latest information on Alberta’s economy, visit www.finance.alberta.ca and click on the Alberta Economy tab.
This column is submitted by the office of Sherwood Park MLA Iris Evans. I feel privileged to represent the constituents of Sherwood Park and will continue to work on your behalf. If you have any questions, comments or suggestions you wish to share regarding this or any other issue, please do not hesitate to contact my constituency office. Telephone: 780-417-4747 begin_of_the_skype_highlighting 780-417-4747 end_of_the_skype_highlighting, fax: 780-417-4748, e-mail: sherwood.park@assembly.ab.ca, office: 116B – 937 Fir St., Sherwood Park, AB T8A 4N6.
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