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Economic Highlights for the Week of October 29, 2018

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Economic Highlights for the Week of October 29, 2018

A weekly update of Economic Highlights.

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Economic Dashboard Indicators Updated This Week

UNEMPLOYMENT RATE

Oct 2018

7.3%

-0.3% y/y

Analysis

In October 2018 Alberta's seasonally adjusted unemployment rate was 7.3%, down from the 7.6% rate that was registered a year earlier and up slightly from last month's 7.0% rate. The national unemployment rate was 5.8% in October, down from last October's rate of 6.2%.
 
Alberta
By Province
By Demographic

BANKRUPTCIES

Aug 2018

23

27.8% y/y

Analysis

Alberta business bankruptcies increased 27.8% from 18 in August 2017 to 23 in August 2018. Consumer bankruptcies in Alberta decreased by 6.0% from 450 in August 2017, to 423 in August 2018.
 
Alberta
By Province
By Type

EMPLOYMENT

Oct 2018

2.3M

1.8% y/y

Analysis

Total employment in Alberta decreased by 2,700 jobs between September 2018 and October 2018. On a year-over-year basis, employment grew by 42,300 jobs or 1.8% in October. Over the same period, Canada's employment increased by 1.1% or by 205,900 jobs. Full-time employment increased by 1.6% in Alberta. Part-time employment increased by 2.9% on a year-over-year basis.
 
Alberta
By Province
By Type of Work

MERCHANDISE EXPORTS

Sep 2018

$9.7B

30.3% y/y

Analysis

Alberta's international merchandise exports were $9.7 billion in September 2018, 30.3% higher than the same period last year. Canadian exports increased 12.4% over the same period. In Alberta, all export categories increased, with exports of energy products, which made up 70.6% of exports, increasing by 37.3%.
 
Alberta
By Province
By Commodity

Top Updates on Major Projects This Week

Chapel Rock to Pincher Creek Area Transmission Development - https://majorprojects.alberta.ca/details/Chapel-Rock-to-Pincher-Creek-Area-Transmission-Development/3757
The project will create a new 240 kV transmission line between 35-47 km long connection a new substation called the Chapel Rock Substation to the Goose Lake Substation, or the Castle Rock Substation.

The Chapel Rock Substation will connect the [Read More]

Brewery District (Molson Site Redevelopment) - https://majorprojects.alberta.ca/details/Brewery-District-Molson-Site-Redevelopment/105
Complex will consist of house retail, grocery store, office space, restaurants. Anchor tenants Loblaws City Market, Goodlife Fitness, Shoppers Drugmart & MEC.

Rocky View County Municipal Building - https://majorprojects.alberta.ca/details/Rocky-View-County-Municipal-Building/145
Construction of a county hall builind to accommodate 250 work stations.

Autumn Glen Lodge Upgrades / Modernization - https://majorprojects.alberta.ca/details/Autumn-Glen-Lodge-Upgrades-Modernization/434
The Autumn Glen Lodge is proposed to be built in three phases. Includes 60 rooms and 30 self-contained units totalling 74,000 square feet on 5.74 acres.

Contact

For questions about the Weekly Economic Highlights, please contact economiclink@gov.ab.ca