Why Edmonton

Welcome to One of Canada's Top Performing Economies

GDP Growth

Statistically, Edmonton equals economic success. Our regional economy has all the right elements for creating long-term prosperity for yourself, your family, or your business—and we have the data to back up our claim.

The Conference Board of Canada estimates that Edmonton’s 2013 economic output grew faster than that of any other major Canadian city by a significant margin, and has forecasted that Edmonton will remain one of Canada’s fastest growing economies for years to come.

With an ever-increasing GDP that outshines other regions, a highly diverse labour force, one that is growing in size and skill set, thousands of new people and businesses find a home in Edmonton every year.

GDP Growth Rate, Major Canadian Cities (2013)

Source: Conference Board of Canada

What Makes Edmonton’s Regional Economy Tick?

Edmonton’s economic fundamentals such as working-age population growth, employment growth and inflation have been remarkably healthy for several years. This has led to a strong housing market, the second-highest median household income in Canada and high levels of consumer spending.

The Edmonton region has been rated as one of the most diverse economies in Canada by the Conference Board of Canada, and we have some unique drivers that form the backbone of our economic growth: Alberta’s oil sands, the government sector and entrepreneurship.

Despite our high rate of growth, Edmonton’s economy has also enjoyed several years of low inflation and the most affordable major housing market in Canada.

Do you have a question about Edmonton? Enterprise Edmonton can provide customized research and reports that help businesses make informed decisions.

Demographics

Edmonton is the second-fastest growing metropolitan area in Canada. Learn more about Edmonton’s demographics.

Business Lists

Edmonton is home to over 47,000 businesses. Learn more about Edmonton’s top firms by industry.

Labour Force

Edmonton has one of the strongest labour markets in Canada. Learn more about Edmonton’s labour force.

Custom Research & Analytics

Do you have a question about Edmonton? Enterprise Edmonton can provide customized research and reports that help businesses make informed decisions.

Latest Economic Indicators

 As ofLatest monthPrevious monthPrevious year M/M changeY/Y change
Gross Domestic Product1
Real GDP (Millions)Mar-15$88,153$89,752$87,476-1.80%0.80%
Labour Market2
Unemployment RateApr-155.80%5.30%4.90%0.50%0.90%
Labour Force ('000s)Apr-15800.7797.7785.20.40%2.00%
Employed ('000s)Apr-15754.3755.6746.9-0.20%1.00%
Unemployed ('000s)Apr-1546.34238.310.20%20.90%
Participation RateApr-1573.20%73.00%73.70%0.20%-0.50%
Employment RateApr-1568.90%69.20%70.10%-0.30%-1.20%
Inflation3
CPI Inflation RateApr-150.70%0.10%2.20%0.60%-1.60%
New Housing4
Housing StartsApr-151,2861,7271,255-25.50%2.50%
Unabsorbed InventoryApr-158318248770.80%-5.20%
AbsorbtionsApr-15703848710-17.10%-1.00%
Value of Building Permits5
Residential ('000s)Mar-15$305,916$497,218$328,596-38.50%-6.90%
Non-Residential ('000s)Mar-15$116,178$77,316$180,55350.30%-35.70%
Sources and Notes
1 Conference Board of Canada, $ 2007 (Quarterly Data)
2 Statistics Canada, Seasonally Adjusted
3 Statistics Canada
4 Canada Mortgage and Housing Corporation
5 Statistics Canada, Seasonally Adjusted
* All statistics refer to the Edmonton CMA

Northern Alberta Value of Major Investment Projects – as of May 27, 2015

Project SectorProjected Cost ($ Millions)
Agriculture / Forestry and Related230.8
Commercial / Retail2,326.7
Commercial / Retail and Residential2,627.5
Infrastructure7,123.7
Institutional2,604.0
Oil Sands102,142.0
Oil and Gas18,845.0
Other Sectors3,265.1
Pipelines21,660.4
Power9,527.9
Residential1,558.3
Tourism / Recreation2,219.5
Total174,130.9
Source: Government of Alberta with Enterprise Edmonton calculations