by Morinville News Staff
The Government of Alberta sang its praises Thursday for a growing economy, returning jobs and a decrease in the deficit by $2.5 billion.
Citing stats that show the Alberta economy grew by 4.9 per cent in the 2017-18 governmental year, the government was pleased with the increase following the provincial recession and an increase of 90,000 full-time jobs last year.
“Our government has been clear – we are going to have the backs of Albertans,” said Joe Ceci, President of Treasury Board & Minister of Finance, in a release Thursday. “That’s why we made sure to invest in the services families need while keeping a steady hand guiding the province out of this recession. We know that we still have work to do, but we will not let up until all Albertans feel the economic recovery. We are growing an economy that is built to last.”
The NDP say Alberta’s “broad-based economic recovery” has continued into 2018. Expectations are for a 2.7 per cent this year.
The Canadian Federation of Independent Business reported Thursday that small business optimism had an uptick in Alberta.
The CFIB’s Alberta Business Barometer index for June indicates small business confidence gained three points in Alberta reaching 56.5. Although there is an uptick, Alberta remains weak relative to the national levels which sits at 62.2.
Despite government stats that show 90,000 full time jobs were added last year, the CFIB data shows full-time staffing intentions are muted with 15 per cent looking to hire and 15 per cent looking to lay off.
“Small business owners are more optimistic than they were last month, but the index continues to underperform compared to historic norms. Although hiring intentions are lukewarm, the fact the staffing reductions have swelled is positive news” said Amber Ruddy, Director of Provincial Affairs for Alberta.