According to a new report by investment bank BDC, Alberta will likely experience a two per cent growth in its economy this year as businesses are expected to increase their investment in their companies.
The report says near 12 per cent of businesses within the province will be reinvesting in the coming year at an average of approximately $330,000 each and the move will result in an increase in the number of jobs in Alberta.
“We have seen more economic activity and also the economy has been creating jobs, about 50,000 jobs for the last 12 months, so business owners are seeing the growth,” said Pierre Cleroux, chief economist with BDC.
The BDC report also predicts a positive year for the economies of British Columbia, Saskatchewan and Ontario.
While there is uncertainty regarding the renegotiation of the North American Free Trade Agreement and an expected jump in interest rates, Calgary companies appear to be hiring and staffing agencies say there are far more jobs coming through the door for this time of year than in previous years.
“Mid-January, (job openings) should just be trickling in and we’re seeing much more than that,” said Sharlene Massie of About Staffing. “We have enough work to keep all the recruiters busy and keep all the admin team busy.”
With files from CTV’s Bill Macfarlane
