[troutman]

http://www.theglobeandmail.com/servl.../Business/home

Oil-rich Alberta is enjoying the strongest period of economic growth ever experienced by any Canadian province, according to a Statistics Canada study released Thursday.

Record oil prices, along with surging demand for energy and the perception of a dwindling global supply have created the conditions for the hottest economy in the country. Alberta's nominal gross domestic product jumped 43 per cent between 2002 and 2005, and there is no sign of slowing down in 2006.

The ”unprecedented” economic boom has left Alberta with the lowest unemployment rate of any province in Canada — or any state in all of North America, Statscan said in a study published in the Canadian Economic Observer.

Meanwhile, The Conference Board of Canada predicted Thursday in its autumn outlook that Calgary will lead Canadian cities in economic growth this year. Calgary's economy is expected to expand by a ”stunning” 6.6 per cent in 2006, compared with a national growth rate of 3.1 per cent, while job creation is on track to reach 7 per cent.

In 2007, the board expects job growth will moderate and employment will rise by a ”still healthy” 1.9 per cent, creating another 12,100 jobs in the Calgary area. ”However, the increase in labour force growth is expected to outpace that of employment next year, lifting the unemployment rate to 3.7 per cent.”