Provincial Outlook Economic Forecast: Alberta—Spring 2018

This quarterly economic forecast for the province of Alberta examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.

Document Highlights

Moderate GDP growth is expected in 2018–19.

Strong job creation is helping to push wages up, but the unemployment rate will hold well above pre-recession levels for the foreseeable future.

Business investment will pick up in the coming years but remains at low levels as considerable uncertainly weighs on the oil and gas sector.

The government has a path to balance the books in 2023–24, but in the interim, the province will accrue a considerable debt burden.