The latest economic trends for Alberta were published yesterday by Treasury Board and Finance. In sum, the employment and economic recovery that has been happening for more than half a year continued in March and April.

The graph above shows manufacturing shipments have been trending in the right direction for nine months, “with most sectors joining the recovery.”

Here’s some other key quotes from the report:

“After increasing in seven of the last eight months, employment advanced in March 2017 with its strongest monthly increase since February 2014. Alberta has now recovered nearly two-thirds of the job losses incurred during the recession (peak to trough).”

“With the job market improving, the number of EI claims has come down.”

“With consumer confidence rising, retail sales have now regained most of the losses incurred during the downturn.”

“Housing starts in the province have surged after a slow start to the year. …With single family starts remaining stable, province-wide housing starts in March hit the highest level in sixteen months.”

“Conventional oil production has increased along with the pickup in drilling activity. After bottoming out in October 2016, conventional production grew for the fourth month in a row in February. This was on the back of a large increase in rigs drilling in late 2016 and early 2017. The recovery in conventional oil combined with continued strength in non-conventional output lifted Alberta’s crude oil production to 3.3 million barrels per day in February, a 10% y/y increase.”

“Higher oil prices and production are fueling Alberta’s exports. They grew almost 37% y/y in February, mainly due to energy exports, which were up almost 60% y/y. Year-over-year growth was also supported by stronger exports of forestry and agricultural products.”

The Economic Trends report, http://www.finance.alberta.ca/aboutalberta/economic-trends/2017/2017-04-economic-trends.pdf