Major City Insights: Edmonton—Autumn 2021
The Conference Board of Canada,
October 4, 2021
Thanks to COVID-19 vaccines and reduced public health restrictions, economic momentum in major cities across the country is building. Vaccine passes will help to prevent new restrictions, but the presence of variants is still a downside risk to our outlook.
- After falling by 7.7 per cent in 2020, Edmonton’s real GDP will expand by 7.3 per cent this year.
- The strong recovery in Alberta’s energy industry is good news for the city, whose manufacturing, transportation and warehousing, and professional and technical services industries are tightly linked to oil and gas activity.
- The labour market will continue to strengthen over the rest of this year, most notably for employment in accommodations and food services, transportation and warehousing, and manufacturing.
- The spread of virus variants remains a significant risk to the outlook. COVID-19 case counts in the province began to pick up over late summer, and by September surgeries were being cancelled to make room in hospitals to care for COVID-19 patients.