I started this all off with industry. It’s like the first bit of snow falling in a point-release avalanche.
There is a new (budding) industry in Alberta that is trying it’s best to pick up some economic slack: Cannabis.
The truth is, Alberta’s oil and gas sector is the main driver of industry development. No secret here.
(This might be a secret to different parts of Canada, which is a lesson they might be wise to learn?)
I think the opportunity in this kind of cyclical industry is it creates space for people, great people, to explore employment is other industries.
Long term I think this diversifies our economy, employment, and limits our exposure to sever peaks-and-valleys in the economic cycle.
That all said, let’s take a look at recently released jobs and wage growth data from Statistics Canada.
This matters to you because it’s a piece of Canada’s large economic puzzle AND data our Central Bankers consider when deciding on interest rate policy.
On a National level, there is positive employment news with 94,000 full time permanent jobs created (over expectations). And our National unemployment rate is also at a 40 year low of 5.6%.
Current market consensus for a January 9th Bank of Canada interest rate hike is about 24% (low).
Thank you again for reading as I hope these macroeconomic data points are helpful to you in relating back to demand for Calgary Real Estate.
I also hope having awareness in anticipation of future Bank of Canada interest rate policy decisions, with relevant data, is useful to you.
Thank you again for reading,
Chad Moore
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