ATB recently released its quarterly economic analysis, providing wide-ranging insights into GDP, inflation, population and employment rates, and touching on sectors like agriculture, construction, and energy on both a provincial and national level. Over the past year, the province felt the bite of economic challenges caused by high interest rates, slower energy sector growth, and agriculture sector setbacks due to drought. However, ATB reports that Alberta is poised to rebound in 2025, driven by improvements in energy market access, stronger home construction, and meaningful expansion in the hydrocarbon and petrochemical manufacturing sector. Alberta’s economy has key tailwinds propelling it forward, with growth projections indicating a real GDP increase of 2.5% in 2024 and 2.7% in 2025, soundly outpacing the national average. This resurgence is marked by a shift towards multifaceted growth across sectors. Despite energy investment remaining below pre-2014 levels, expansions in sectors like hydrogen, biofuels, food manufacturing, and petrochemicals are contributing to economic vitality. Emerging industries such as technology, aviation, tourism, and film are also gaining traction, underscoring Alberta’s adaptability and potential for innovation. As evidenced by a 28% increase in building permits in early 2024, home construction is significantly driving growth, with residential investment projected to surge as

Earlier this month, representatives from Alberta journeyed to Quebec City to compete in the 2024 Skills Canada National Competition (SCNC). After showcasing their exceptional skills on the national stage, they returned home with 36 medals. In fact, 77% of Team Alberta finished in the top 4! This impressive performance truly spotlights the dedication and capability of these future tradespeople. The Skills Canada National Competition is the premier national event for students and apprentices in various trades and technologies. Each year, over 500 of Canada’s top talents gather to compete in more than 40 different skill areas, including industrial mechanics, refrigeration and air conditioning, sheet metal work, carpentry, bricklaying, and more. During the event, thousands of students explore rewarding career opportunities in the skilled trades and technologies through dozens of exciting competitions, interactive activities, exhibitor booths, and by engaging with industry professionals. This year’s theme was “Creating Possibilities” – a fitting description given the necessary and enhanced focus on the skilled trades sector in Alberta. As our economy grows and expands, so too does the need for talented tradespeople to support our infrastructure needs. Now, more than ever, the focus on excellence in trades and technologies is being matched by employers

As CLRA members are all too familiar with, the province continues to grapple with a shortage of skilled trades workers, which not only leaves critical construction jobs unfilled but increases the average Albertan’s overall cost of living. To help address this challenge – and create more opportunities for students to enter these high-demand fields – today, the Alberta government announced its investment of $43 million into the design and development of NAIT’s new Advanced Skills Centre (ASC). The ASC will aim to become a global leader in apprenticeship and cutting-edge, technology-based education, focusing on four key sectors: construction, transportation, manufacturing, and energy. During the announcement, Minister of Advanced Education Rajan Sawhney highlighted the ASC’s role in meeting Alberta’s growing economic demands by expressing that “Alberta is leading the way in skills and trades education”. With construction set to begin in 2025, the ASC will add 640,000 square feet of modern learning space to NAIT’s campus. This expansion will allow over 4,000 additional apprentices to graduate from NAIT each year, an institute which already boasts a 30% student representation in full-time apprenticeship and skilled trades programs. This investment in the development of the ASC is crucial for ensuring that Albertans wishing