Current economic indicators
Get the most up-to-date economic information, including GDP, unemployment and housing starts.
Calgary's Economy
Calgary has been known as Canada's powerhouse.
The city has had the strongest performing urban economy in the nation for many of the past 10 years, and is expected to stay on top -- or close to it -- until 2017.
The economy has grown faster than any other major city in the country. Calgary has had the second highest average annual and second highest total GDP growth over the past 10 years (2003-2012).
The superlatives tell the story. Of the six biggest cities in Canada, Calgary has:
- The most productive and best-paid workforce
- The highest personal income and the greatest purchasing power
- A lower cost of living than either Toronto or Vancouver
- Tied with Edmonton for lowest unemployment rate (2012)
- The second highest total growth in retail sales over the past 10 years (2003-2012)
Summary of current economic indicators - Calgary
| Indicator | Date | Value | Change / Rate (%) | Geography |
|---|---|---|---|---|
|
Population Change over year |
July 1, 2012 | 1,406,080 | 3.1% | CER |
|
Inflation rate Change over year |
Mar. 2013 | 1.3% | CMA | |
|
Employment* Change over year |
April 2013 | 761,400 | 1.8% | CMA |
| Unemployment rate* | April 2013 | 4.7% | CMA | |
|
Average hourly wage* (hourly employee) Change over year |
Feb. 2013 | $26.48 | 3.5% | Alberta |
|
Average hourly wage* (salary employee) Change over year |
Feb. 2013 | $37.38 | 4.9% | Alberta |
|
Average weekly earnings Change over year |
Feb. 2013 | $1,099.77 | 4.5% | Alberta |
|
Gross domestic product Change over year (Real GDP growth) |
Q1 2013 |
107,431.90 (2007 $ Millions) |
2.9% | CMA |
|
Retail sales Change over year |
Q1 2013 |
25,276.53 ($ Millions) |
5.8% | CMA |
|
* Seasonally adjusted, 3 month moving average |
Summary of current real estate / construction indicators - Calgary
| Indicator | Date | Value | Change/Rate (%) | Geography |
|---|---|---|---|---|
|
Housing starts - number Change over year |
Year-to-date April 2013 |
3,572 | -27.3% | CMA |
|
Building permit values Change over year |
Year-to-date March 2013 |
$1.4 Billion | 22.1 | CER |
|
Major Calgary project values1 Change over year |
April 2013 | $18.2 Billion | -3.1% | City of Calgary |
|
Benchmark Calgary house price (single family) Change over year |
April 2013 | $452,900 | 7.3% | City of Calgary |
| Downtown office vacancy rate | Q1 2013 | 5.7% | City of Calgary | |
| Suburban office vacancy rate | Q1 2013 | 12.4% | City of Calgary | |
| Industrial real estate vacancy rate | Q1 2013 | 2.7% | City of Calgary | |
| Retail real estate vacancy rate | Q3 2012 | 2.4% | City of Calgary |
CER = Calgary Economic Region
CMA = Calgary Census Metropolitan Area
1 On hold projects removed from total
Sources: City of Calgary Corporate Economics, Statistics Canada, Conference Board of Canada, CMHC, CB Richard Ellis, Barclay Street Real Estate, Calgary Real Estate Board, Alberta Enterprise and Advanced Education
