Alberta Oil Sands Investment Real Estate News®
Glenn Simon Inc., Suite 1217, 5328 Calgary Trail NW, Edmonton, Alberta, Canada. Tel 1-888-780-5940 Fax 1-888-276-4517
www.glennsimoninc.com email: info@glennsimoninc.com
March 15th., 2012
Volume 12, Issue 2
Dear Friends and Partners,
As the economy heats up in Alberta you can see more and more help wanted signs popping up along the roadsides, in store windows and even blinking brightly on electronic signs. This reminds me of those heady 2005 days when the economy began to heat up. We notice a spike in hits to the rental site ads we post too. These indicators confirm that we are shedding the dirty cloak of recession and stepping anew into another upward cycle.
Edmonton and Calgary tie for the lowest unemployment rates in Canada. Edmonton is also rated as the most affordable place to live in Canada, based on salary and home prices, at 33.2% according to RBC's Affordability Index. Calgary rates second at 37.6%. In case you're wondering... Vancouver is the most unaffordable with 90.6% of income going to support living costs.
An interesting twist to this heated economy that I notice is the characteristics of younger Millennial workers, often referred to as Gen-Ys: there seems to be a feeling of working less, committing less to the job in order to have more personal time. The monetary gain is outweighed by the desire to claim their own time away from work. Some may argue that a Millennial worker uses technology to manage his job more efficiently, thus reducing the need to work extra hours, but that can't be said for everyone belonging the the group. Another interesting trait from an employer perspective is the lack of filter in this generation that manifests in 'over-sharing'.
With Alberta requiring 132,900 new, full time jobs over the next two years, it will be interesting to see how our market place learns, grows and adapts to these new workers. Somewhere, between a baby boomer and a millennial lies a great balance of work ethic and home time. The future is bright.
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No Thaw In Sight For Rate Freeze
One percent rate in effect since September 2010 likely to last into 2013
By Louise Egan and Randall Palmer, Reuters. March 9th, 2012
The Bank of Canada issued a more upbeat outlook for the Canadian and global economies Thursday, suggesting that an interest rate hike may be back on its radar screen, albeit not immediately.
The central bank maintained its overnight lending rate target at one per cent, mirroring decisions by the European Central Bank and the Bank of England and extending its freeze on borrowing costs for an 18th month.
In a statement, it said the Canadian economic outlook was "marginally improved," uncertainty around the global economy had eased and the profile for inflation was somewhat firmer than it had foreseen.
READ MORE HERE===============
As Oilsands Activity Heats Up, Alberta Employers Brace For Soaring Costs, Worker Shortages
By Gary Lamphier, Edmonton Journal, March 7th, 2012
EDMONTON - Three years after global energy prices tanked, Alberta’s oilsands are booming once again.
But industry players say they’re already bracing for what they fear lies ahead: chronic labour shortages and soaring cost pressures, two factors that caused so much havoc during the last boom.
As 2012 began, the number of workers employed in the province was already five per cent above its pre-recession high, the Conference Board of Canada says, handily outstripping the national growth rate.
Over the next two years, the board predicts Alberta will create 132,900 net new jobs — or about 40,000 more people than the entire population of Red Deer — cutting the province’s unemployment rate to 4.5 per cent by 2013. That’s just one per cent above the pre-recession lows of 2007.
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Underused Labour Pools Would Buoy Alberta Economy
By Bill Mah, Edmonton Journal. March 7th 2012
EDMONTON - Whether you have a job in Alberta depends so much on who you are.
Despite government and industry raising the alarm on a looming skills shortage that some employers say is already here, some groups of potential workers remain largely untapped, even as the jobless rate shrinks.
In Edmonton, the unemployment rate in January was five per cent, continuing its steady recovery from the last recession.
Drive south for about an hour to Hobbema, and the rate rockets to more than 50 per cent.
“More than half of our people aren’t working,” says Allison Adams, who runs the Maskwacis Employment Centre in the First Nations community that has a population of about 12,000 and a potential labour force of more than 5,000.
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Your success continues EVERYDAY, let me help you build for tomorrow.
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Warm Regards,
Todd and Danielle Millar
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