Economic growth in Alberta

Alberta’s economy is simply at its boom. This province of Canada is growing with the fastest rate as compared to the other regions. There are many reasons behind it. They are providing business opportunities, investment prospects as well as employment to the people of many countries. In addition to that, this province has strengthen itself in various fields like agriculture, energy as well as in industrial field. Here, we are going to share some amazing facts of its progress.

Employment rate:

Alberta’s economy is growing with the fastest rate possible. Moreover, there are great chances of employment in this province. The overall provincial employment has increased to 40, 000 as compared to the previous year. On the other hand, the unemployment rate is reducing day by day. This is good and challenging for companies like mudjacking Edmonton that are looking to hire more employees because of the increased workload. More and more people are now able to take part in the country’s economy. After two years of decline, the businesses in this region are progressing.

Alberta leads all provinces:

Alberta beats all other provinces with its rapid growth. The province has beaten all records of the past 20 years. The annual GDP growth of the province is 3. 2 % per year. This percentage is applied in 1995 to 2005.

Consistent growth:

The core focus of the province is on consistent growth of the province and country. Interest rates are raised for the first time in past seven years. This is a big victory for the officials. They are providing international markets to explore the companies of Alberta. They are facilitating events and programs to help in growing the market. Now, small sized and medium sized companies are promoted to take part in the development of the province.

Oil price stability:

Now, the price of oil is stable more than ever. It is expected to see approximately 31. 3 % fall in the prices of oil and gas. These figures are based on the investment intentions for 2016.

Innovation department:

The provincial government is introducing new technologies in the market. Several investments are made to conduct world class research in the institutes of Alberta.