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ATB’s March Economic Outlook Points to Steady Activity and Strong Labour Market

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.

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Announcement

From Barriers to Breakthroughs: Unlocking Investment through Regulatory Reform

Canada has no shortage of projects worth building. What it needs to have is a regulatory system fast enough to build them. In its latest From Barriers to Breakthroughs report, the Business Council of Alberta (BCA) outlines recommendations to modernize major project approvals, unlock investment, and give companies the certainty they need. The data tells a stark story; Canada is falling behind. The scale of the problem is significant. Between 2006 and 2021, federal regulatory requirements increased by 37% despite repeated reform efforts. To reverse this trend, BCA recommends improving major project reviews and permitting through changes to the Impact Assessment Act (IAA) and the Canadian Energy Regulator Act (CER Act), and strengthening regulatory design and oversight. Key reforms include: Improve the process for screening reviews in and out of the IAA: Ensure projects are reviewed by the correct regulator under the right legislation and enable “one project, one review, one decision” by integrating federal expertise into provincial processes. Remove late stage political decisions: Adopt a two stage decision model with an early political decision on whether a project proceeds and a final independent authorization on how it proceeds. Shorten and stabilize timelines: Limit reviews to two years or less,

Announcement

Premier’s Investment Council Created to Accelerate and Drive Investment

Last week the Government of Alberta established the Premier’s Investment Council (PIC) to improve coordination across ministries and provincial agencies responsible for investment attraction, economic development and resource sector growth. Chaired by Premier Danielle Smith, the PIC brings together 20 members, including key cabinet ministers and the leadership of provincial bodies involved in investment attraction, economic development and resource sector growth. The council will align efforts across government, share market intelligence and focus on high-impact opportunities that strengthen Alberta’s competitive position. The PIC also builds on the government’s March 23 commitment to introduce legislation that would establish a 120-day approval timeline for major projects once consultation and environmental assessments are complete. This legislation represents a serious commitment to improving the province’s competitiveness as a destination for large-scale investment. Alberta has set ambitious goals for doubling oil and gas production by 2035 and increasing market access. An accelerated approval process is that improves coordination between government and regulatory bodies and gives industry the certainty needed to make these major investments. For CLRA members, the government’s recent announcements are encouraging. A more predictable approval environment and a more coordinated government will help create the conditions needed to deliver large and complex projects.

Announcement

Alberta launches new Trades Discovery Centre to support the next generation of skilled workers

“With labour demand rising across Alberta’s construction sector, attracting the next generation of skilled workers remains a priority for CLRA. That’s why the launch of the Alberta Trades Discovery Centre represents an important step forward for the sector and for the province,” said CLRA President, Joe McFadyen. The Alberta government has announced the creation of the Alberta Trades Discovery Centre, an initiative designed to give students hands-on exposure to careers in the skilled trades. The centre will introduce junior high and high school students to construction trades in a professional environment and help them make informed decisions about their future education and career pathways. The province is investing $6 million over three years to support the centre’s initial implementation and operations, aligning with our Seed vs. Sod approach. For CLRA, “Seed” comes first: building a strong local pipeline through education, training and mentorship. Our strategy focuses on attracting more Alberta youth to trades, strengthening training pathways and deepening partnerships with post‑secondary institutions to meet industry needs. This reinforces our commitment to growing Alberta’s own talent. Students will gain practical experience in “try-a-trade” bays, learn directly from experienced tradespeople and explore the wide range of opportunities available across Alberta’s construction sector.

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.”