Quote:
Originally Posted by Enoch Root
Don't hold your breathe - the economy is a very long way from taking off.
Hopefully we can stop the net job losses soon. That would be a good first goal. At this point, Calgary is still losing more jobs than it is creating - and the carbon tax hasn't even hit yet.
But I am sure that, despite the wage hikes and tax increases, that somehow the Alberta economy will buck all historical evidence and soar to great new heights over the next couple years!
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In terms of the alberta economy despite an increase in the minimum wage it has seen a significant decline in the cost of doing business in the oil patch. If you look at the Cenovous estimate for there 50k expansion they have cut 500 million. The bulk of that would be a labour cost of D+C and fab.
So Alberta will likely buck the trend in that the minimum wage hikes and tax increases will be offset in the decreased price of the labour market so much so that it will be difficult to see the affect of tax increase and minimum wage hike in the data.