ATB’s latest quarterly economic outlook points to continued demand for skilled trades in Alberta, with a stronger labour market, steady economic growth and momentum behind major projects. Cautious capital spending and ongoing uncertainty in the energy sector mean project timing will remain something to watch.
ATB expects Alberta’s real GDP to grow by 2.7% in 2026, up from the December forecast of 2.1%, attributing the improvement to a stronger than expected labour market through late 2025 and early 2026 rather than to oil prices alone. Job growth is forecast at 3.1% this year, with the unemployment rate expected to fall from 7.2% in 2025 to 6.4% in 2026. For CLRA members, this tightening labour market reinforces the need for proactive workforce planning and underscores the value of the skilled trades capacity our members provide.
However, strong headline growth does not automatically translate into more construction activity. Workload will depend on whether investment decisions move ahead and how companies respond to evolving market conditions. Recent provincial announcements, including the Premier’s Investment Council and the proposed 120-day project approval timeline, are a direct response to those conditions. If these measures shorten approval windows, they could meaningfully influence the timing of upcoming work.
The outlook signals steady activity, but the underlying challenge is making sure Alberta has the workforce to meet demand. This is where CLRA’s Seed vs. Sod approach becomes important. Seed is our priority: growing Alberta’s own talent through apprenticeship programs, education, training and mentorship. Our strategy focuses on attracting more Alberta youth to the trades, strengthening training pathways and deepening partnerships with post-secondary institutions to build a strong local pipeline of apprentices, journeypersons and future supervisors.
This includes initiatives like CLRA’s Build Your Future in Alberta campaign, the bursaries and grants we sponsor for apprenticeship programs at NAIT, and our work with partners like Skills Alberta, Careers the Next Generation and The Educational Partnership Foundation.
Delivering the infrastructure and commercial projects Albertans need will depend on having a trained and experienced workforce. CLRA will continue to work with government and industry partners to ensure our members are well positioned to meet growing demand as conditions evolve.
Read the full ATB Quarterly Outlook here.
