To stay on top of thing I have decided to pick a few stats each week regarding the Alberta economy. From the Alberta Finance Weekly update. These are not the most recent updates just ones that caught my attention.
In the labour market hourly wages have not shown any signs of weakness. Hourly wages in Alberta are up 4.5% this February year over year. I think high wages for the majority of people that remained employed in Alberta and record low interest rates are contributing factors to improving conditions in the real estate market over the last couple months.
Retail sales are down 6.3% in January. This is notable because there has been an expansion in the amount of retail space over the past few years, so I would guess that the downturn would feel worse than this in terms of same store sales.
The number of rigs drilled is down 43.9% this Febraury comapred to last year. This is comparing to 2008 which the industry never recovered fully from the beating it took in 2007.