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ALBERTA ECONOMIC DEVELOPMENT AND TRADE MONTHLY ECONOMIC REVIEW APRIL, 1992 PREPARED BY: ALBERTA ECONOMIC DEVELOPMENT & TRADE POLICY DEVELOPMENT & COORDINATION BRANCH MAY 21, 1992 (PRODUCED ON ASIST) CURRENT ECONOMIC INDICATORS APRIL 1992 HIGHLIGHTS Employment/Unemplovnient : The unadjusted unemployment rate in Alberta month period. Although gains were posted in shipments of paper and declined from 10.1% in March 1992 to 9.5% in April to, again, rank second allied products, wood products, and beverages, losses elsewhere led to lowest in Canada behind Saskatchewan. The level of unemployment declined the overall decline. Nationally, Ontario and B.C. posted gains in by 9,000 persons to a total of 128,000 in April. Employment increased shipments over the period but performance in other regions remained weak. over the same two month period to a level of 1,221,000, up 2,000. Energy: Production of natural gas in Alberta increased by 2.8% in the Housing: The value of building permits issued in Alberta increased by final month of 1991 compared to 1990 while crude oil and equivalents 76.6% in February 1992 compared to the same month last year. Gains were production was up 0.7%. For the year as a whole the rates were a 3.0% attributable to growth in residential, commercial and increase for gas and a 0.3% decline for oil. In February 1992, 127 rigs institutional/government permits. Total urban dwelling starts increased were active, a 41.5% decline from the same month last year. by 80.2% in February and have nearly doubled over the first two months of this year compared to last. Gains were posted in all major categories Agriculture: Farm cash receipts in Alberta, although declining by 1.7% on a year-to-date basis. for the year as a whole, increased by 21.4% in the final quarter of 1991 over the same period in 1990. Values were generally weak across the International Travellers: Despite increases in visitations originating country on an annual basis. from the Netherlands, Switzerland, Hong Kong, Japan, and Australia, the total number of non-residents entering Alberta in February 1992 declined Exports: A loss in the value of exports in January overshadowed a slight by 26.7% compared to February 1991. (Note: U.S. figures exclude same-day gain in February leading to a 10.0% decline on a year-to-date basis. entries. See data table for additional notes.) Most of the loss was attributable the declining shipments of crude and fabricated materials. Domestic Trade: Restaurant, caterers and tavern receipts declined by 7.8% in October 1991 compared to October 1990 and by 5.4% on a year-to-date Bankruptc i es/ I ncorporat ions: Following a 31.7% decrease in February, basis. The value of retail trade in Alberta increased by 4.9% in business bankruptcies increased by 5.9% in March 1992 compared to March February 1992 compared to February 1991. 1991. Consumer bankruptcies increased by 42.8% over the same period. Incorporations of Alberta firms increased by 16.7% in March 1992 over Manufacturing: With declines registered in both January and February the March 1991 while non-Alberta incorporations declined by 3.4%. total value of manufacturing shipments declined by 8.0% over the two Digitized by the Internet Archive in 2017 with funding from University of Alberta Libraries https://archive.org/details/monthlyeconomic1992albe_4 BUILDING PERMITS, ALBERTA UNEMPLOYMENT RATES, PROVINCES Saskatchewan Alberta British Columbia Manitoba Ontario Canada Quebec Atlantic 0% 4% 8% 12% 16% 20% Unadjusted Rate NATURAL GAS PRODUCTION, ALBERTA CRUDE OIL & EQUIVALENTS PRODUCTION Alberta MM Cubic Mstret M Cubic Metres CURRENT ECONOMIC INDICATORS April 1992 UNEMPLOYMENT (unadjusted) FEB-91 MAR-91 APR-91 FEB-92 MAR-92 APR-92 Alberta 10.3 ab)) UManleem p Ulnoeymmpelnoty m eRantte (Rtaottael ) 788...392 887...963 97..50 11.4 1100..18 109..35 iAnl b Aeprrtial ’ s1 9 u9n2e m cpolmopyamreendt troa t Me a rdcehcr e a1s99e2d. c) Female Unemployment Rate 8.4 8.9 9.3 d) Youth Unemployment Rate 13.5 7123..08 N/A 14.8 7114..55 7N18/..A05 e) Participation Rate 7110.59 112 7121.32 7113.94 137 128 0 U nemployment (total - O OO’s) g) Employed (total - O OO’s) 1,220 1,229 1,234 1,219 1,214 1,221 INDUSTRY EMPLOYMENT (unadjusted) JAN-91 FEB-91 MAR-91 JAN-92 FEB-92 MAR-92 Alberta 1.6 a) AGRICULTURE 2.3 2.8 Unemployment Rate 3.9 4.2 Unemployment rates declined in Employed (OOO’s) 86.9 86.8 89.1 87.7 86.7 3.1 agriculture, mining, manufacturing, b) LOGGING & F ORESTRY 2.6 18.8 85.1 construction, and retail trade in Unemployment Rate 184..40 30.9 March 1992 over February 1992 and 3.8 3.3 46..18 3.9 3.8 increased in the remaining industries c) E MmIpNlIoNyGed (OOO’s) 4.2 4.8 11.5 11.3 listed. Unemployment Rate 70.6 8.8 6.4 Employed (OOO’s) 67.1 69.4 65.6 65.3 d) MANUFACTURING 11.9 6181..22 12.8 Unemployment Rate 10.4 8.7 9.7 94.9 Employed (OOO’s) 89.9 94.4 86.9 87.5 86.1 e) CONSTRUCTION 27.5 28.0 27.8 22.9 Unemployment Rate 25.4 25.4 70.0 76.9 68.9 69.3 72.4 68.0 Employed (OOO’s) 0 R ETAIL TRADE 8.5 Unemployment Rate 8.3 149.8 9.3 16130..34 158.2 156.4 7.4 161.3 163.9 Employed (OOO’s) g) BUSINESS SERVICES 7.0 7.6 10.9 9.1 Unemployment Rate 6.3 8.9 71.5 689..94 73.9 69.6 Employed (OOO’s) 69.4 67.7 h) HEALTH & S OCIAL SERVICES 4.7 4.5 Unemployment Rate 4.4 3.8 117.1 118.3 1183..97 111.6 1183..69 121.2 Employed (OOO’s) i) A CCOMODATION FOOD & B EVERAGES Unemployment Rate 14.0 11.4 11.2 13.2 14.8 15.3 82.3 76.7 82.8 81.6 Employed (OOO’s) 83.6 90.4 JANUARY - F EBRUARY JANUARY FEBRUARY CENT BUILDING PERMITS ($millions) 1991 1992 CHANPGEER- 1991 1992 CHACNEGNET 1991 1992 CHACN-EG4N4ET. 7 -50.5 Aal)b e Trottaa l Value 250.4 346.9 -4378..45 12468..73 128.4 -P3E21R..4-3 123.7 211283..59 P7E6R.6- The total value of building permits b) Residential 111.0 211.6 90.6 -8710..69 97.6 increased appreciably in February c) Industrial 20.9 11.0 -12.8 9.5 874..77 6121..74 6.3 1992 compared to February 1991 . d) Ck)mmercial 71.0 82.9 16.8 41.4 28.0 29.5 54.9 e) Institutional/Government 47.5 41.4 27.5 8.0 20.0 8667..10 33.4 JANUARY - F EBRUARY JANUARY FEBRUARY CENT CENT CENT DWELLING STARTS (urban) 1991 1992 CHANPGEER- 1991 1992 CHANGE 1991 1992 CHANGE 40 Alberta P-7E187R..-58 18 67498 a) Single Detached 1,248 83.8 297 530 38220 P5E7.R3- Starts increased in all categories b)Two Family 111262 154.2 3730 33.3 60118 315850..60 in February 1992 over February 1991. 93 24.7 60 56 c) Row d) Apartments 0 117 — 0 99 — 0 82 — -4.1 JANUARY - F EBRUARY JANUARY FEBRUARY -26.7- 4.2 NINOTNE-RRNEASTIIDOENNATLS TERNATVEERLIENRGS 1991 1992 CHACNPE-GEN1ER5T-.- 1 9 . 8 1991 1992 CHACNEGNET- 1.8 1991 1992 CHACNEGNET -6.3 Alberta PER- a)Total 51,573 43,361 20,555 20,622 0.3 31,018 22,739 PER- Travelers entering Alberta decreased cb))UG.eSr.mAa ny 361,,124872 351,,449360 11-.75. 9 16,941626545 17,101 -41300...483 19,188528 18,395 iFne b Freubarruya r y1 9 9119.9 2 compared to d)Netherlands 266 353 610682 10710 812912 16.0 e)Switzerland 393 585 4382..97 156 371808 -60.5 237 275 89.1 OUnited Kingdom 2,117279 2,010457 -1244..04 878 98.7 1,299 1,420187 22.9 A(lNboelrot:aF l gdiurreecst ly .g i vCeonn s earqeu e fnotr l yn,o n -arcetsuiadle n ttost al se n twielrl ing g)Hong Kong 70539 278 210759 86 be understated as significant numbers of traveiers h)Japan 496038 686 21.8 3.4 9296..08 enter via other provinces. This movement will not i)Australia 284 18.7 227 be reflected In this table.) 564 61 For additional tourism statistical data, contact Tourism. Parks and Recreation. Strategic Planning Branch (3T3ou7r ism) at 427-4322.