Major City Insights: Edmonton—May 2021

The Conference Board of Canada, May 13, 2021
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In cities across Canada, economic recovery from the devastating impact of the COVID-19 pandemic depends largely on the vaccine rollout and containing the spread of the virus. The hardest-hit sectors of the economy—particularly those that depend on people gathering in public—will take longer to recover.

Document Highlights

  • Although Edmonton’s economy is emerging from the depths of the pandemic, the road to a full recovery will be rocky.
  • After falling by 6.6 per cent last year, Edmonton’s real GDP will expand by 6.4 per cent this year.
  • A higher oil price may help support investment and production decisions in the oil and gas industry. Output in the primary and utilities sector, which encompasses oil and gas extraction, is forecast to grow by 8.9 per cent in 2021. But in the wake of a significant decline last year, employment in Edmonton’s primary and utilities sector is expected to suffer an additional 4.3 per cent decline this year.

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