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Alberta’s Economic Outlook: Preparing for Growth in 2025

ATB’s latest quarterly outlook report expressed cautious optimism is what ATB forecasts for the country’s economic landscape as we near 2025. To recap, Alberta’s economy is set for stronger growth, estimated at 2.5% this year and 2.8% next year, outpacing the national rate. The energy sector is revitalizing through improved market access and investments in hydrogen and petrochemicals. Rapid population increases are fueling new home construction, while tech and aviation industries are gaining ground. In terms of housing, the market is tight, driven by the province’s skyrocketing population with housing starts reaching levels not seen for nearly 20 years. The unemployment rate is expected to remain above 7% for the rest of the year, though it may gradually decline as job growth continues and migration slows, despite ongoing labour shortages in various sectors, including accommodation, food, and construction. Encouragingly for CLRA, Alberta’s economy is experiencing significant new growth in major projects in a variety of sectors – including decarbonization, where it stands as Canada’s leading hydrogen producer. Key ventures include Air Products’ $1.6 billion Net Zero Hydrogen Energy Complex in Edmonton, which will support Imperial Oil’s renewable diesel facility. Another is the Dow Path2Zero project in Fort Saskatchewan, valued at

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Learn about diversity in the trades:
WorkAlbertaTrades.org/Todays-New-Workforce

CLRA Teaming Up with the Edmonton Elks

Here’s why you should consider the trades:
WorkAlbertaTrades.org/Education-Tools-for-Trades

News

Announcement

Gender Equality Week and the Trades

September 22-29th marks Gender Equality Week, as recently announced by Minister of Arts, Culture and Status of Women Tanya Fir. At CLRA, we believe it is essential to reflect on the representation of women in the skilled trades, especially within the construction industry. While Alberta has made significant strides toward gender equality, the underrepresentation of women in these vital fields underscore the challenges we face in the ongoing labour shortage. Alberta is on the brink of a transformative period, with more than $22 billion in proposed or confirmed projects slated for the coming years. These initiatives, alongside the remarkable recent increase in population, present tremendous opportunities for our province in terms of economic growth and diversification. However, we cannot fully seize these opportunities without a robust skilled trades workforce. We must continue to foster a culture that encourages women to pursue careers in the skilled trades. This requires not just policy changes but a collective commitment to challenge biases and support initiatives that promote inclusivity. One way that CLRA is doing this is through our new website where we have compiled several education, apprenticeship and training resources for women looking to enter the trades. We also reshare other organizations’ –

Announcement

Supporting Alberta’s Skilled Trades: The Journey to Becoming a Journeyperson

As a key player in the construction and labour sectors, CLRA was excited to see the Business Council of Alberta (BCA) launch their “The Journey to Becoming a Journeyperson” taskforce-led project earlier this week. This initiative comes at a critical time, as Alberta faces a rising demand for skilled tradespeople amid its rapidly expanding population and growing list of upcoming major projects. Report author Dylan Kelso shared that BCA’s ultimate goal with this project is to suggest policy recommendations on how to increase the number of skilled tradespeople in our province. This project is a commendable effort to support aspiring tradespeople in navigating the certification process. With its detailed step-by-step breakdown of credentials and training programs for various starting points, it aims to demystify the journey toward becoming a journeyperson, making it more accessible for all Albertans looking to join or switch into the trades. Projects like this are vital for the long-term health of the construction industry – and by compiling education and training resources on our newly launched website, CLRA is helping to accomplish the same goal. By equipping individuals with the knowledge and resources they need, we can collectively address labour shortages and strengthen Alberta’s workforce. We

Announcement

Building Futures in the Trades: New School Collegiate Programs

As students return to school this fall, Alberta is investing significantly in career education to align better with opportunities arising from our booming economy. With a focus on fueling interest and growth in various sectors, including the skilled trades, the provincial government is establishing clearer pathways for youth to pursue and secure fulfilling careers in the construction industry. Seven new collegiate programs will be introduced across Alberta during the 2024-25 school year. These programs are geared towards piquing student interest in trades careers (amongst others) and to provide them with the pathways and opportunities to fulfill them. Developed in partnership with post-secondary institutions, these initiatives feature blended learning, combining in-person studies with online learning experiences. CLRA supports innovative education avenues, including the seven upcoming collegiate programs that encourage high school students to pursue the skilled trades. We are currently promoting our new ‘Build Your Future’ digital campaign, focused on inspiring individuals of all backgrounds and abilities to consider joining skilled profession training programs and apprenticeships. We believe that these initiatives will help equip young people with the necessary skills to thrive in Alberta’s dynamic construction job market – and further contribute to the province’s economic advantage. Read the government’s full

Excerpt: Board Chair's New Year Message to Members

“Over the next several months, much of our association’s focus for that work will be advocacy with the provincial government and with other industry stakeholders. Politics in Alberta have changed dramatically and permanently over the last decade. As a result, we have work to do to raise awareness about CLRA with decision-makers and influencers in government.

“We have important messages to deliver on your behalf about the value of the collective agreements we’ve signed with the skilled trade unions, about the value CLRA offers to government efforts to attract investment and workers to Alberta, about the need for more predictable and stable investments in the construction industry, trades education and workforce retention, about the impact of potential changes to labour legislation, workplace safety regulations and building codes, and about the need to attract and recruit more people to our industry from underrepresented groups including women, LGBTQ2S+ and Indigenous people.

“As Chair, my only ask of our members this year is to support these efforts.”