Canada Adds 104,000 Jobs & Alberta Outperforms
In Dec 2022, Canada added 104,000 jobs with 64% of the jobs being added in just 2 provinces: Ontario and Alberta. Ontario makes sense since it is the largest province but Alberta added 24,500 jobs (23.6%) while accounting for only 11% of the Canadian population.
Alberta is booming right now and is expected to lead the country in economic growth in 2023. Calgary is especially hot with over 100,000 vacant job openings.
When looking for a real estate investment, you should always "follow the money" and with a strong economy and lots of good jobs, Calgary is my top investment city for 2023.
The bad news overall is that this likely gives the Bank of Canada enough ammunition to raise interest rates again by 0.25% at their next meeting on January 25.