â–º Listen Live

ATB DECLARES ALBERTA RECESSION OVER, BUT LONG ROAD TO GOOD TIMES AHEAD

ATB has declared Alberta to be out of recession, but warns that it will be years before the economy will fully recover.

The firm’s latest economic outlook report says the province will experience a real GDP growth around the three percent mark in 2017. Tourism and agriculture are the big drivers in the growth though oil and gas still plays a big role too, though oil will probably be less than fifty dollars a barrel for the rest of the year.

The recession that hit the province in 2014 was one of the worst in its history, with double digit unemployment seen in Calgary and many rural communities.

The report also notes that while Alberta has added 35,000 jobs this year, the economy is adjusting to a more diversified model less reliant on oil. This could take years to be fully realized.

Story by Chris Hunter.

- Advertisement -

Related Articles

- Advertisement -

Latest News

Town of Wainwright has lowest cost of living in Alberta

Overall for 2024, on all items, Wainwright comes in at 92.5 meaning its about eight per cent cheaper to buy something in Wainwright compared to Edmonton. Lloydminster comes in at 94.6, meaning prices on average are about two per cent more expensive than Wainwright.

Road expansion for Cenovus Energy Hub begins July 15

If your regular commute takes you along 40 Avenue, from July 15 you will have to adjust that as Lloydminster road crews will lead road upgrades near the soon to be completed Cenovus Energy Hub.

Grace United cancels Sunday service following small fire

In the aftermath of the minor fire at Grace United Church, Lloydminster on Thursday July 3, Sunday service has been cancelled as the church deals with cleanup.

Lloydminster fire crews put out minor fire at Grace United Church

A minor fire at Grace United Church in downtown Lloydminster engaged the efforts of Lloydminster fire crews on Thursday, July 3.

Parade Marshals announced for Lloyd Ex

With the Lloyd Ex Fair celebrating 120 years, the prestigious role of the Parade Marshals to herald the start of the summer festival are Terence Bexson of Marshall and Lyle & Alison Lee of Lloydminster.
- Advertisement -