Oil jobs not declining, Alberta market will survive

by Olivia D'Orazio27 Feb 2015
Reports that tied Alberta’s supposedly faltering real estate market to major energy-sector layoffs in the oil-rich province have been all but disproven with the latest StatsCan data.
 
Statistics Canada recently found December employment in the mining, quarrying, and oil and gas extraction sector increased 3.1 per cent year-over-year across Canada, with overall employment in Alberta rising 3.4 per cent during the same period.
 
Employment concerns were the driving forces behind Alberta’s drop in consumer confidence last week, but this latest StatsCan report further supports what agents on the ground are actually seeing – a healthy market.
 
“The people who aren’t looking for properties now might be worried about their jobs,” George Bamber, a broker and owner in Calgary, told REP, “but there are a lot of people looking.”
 
Bamber said his agents are still completing sales, despite the Calgary Real Estate Board’s claims that fewer buyers are in the market.
 
Similarly, Ron Pollock, an agent in Edmonton, said he’s not seeing lower sales – or a reduction in oil production, for that matter.
 
“There are so many sectors of the Alberta economy that are doing just fine,” Pollock says. “[The drop in consumer confidence] is largely due to just the oil industry and, for the most part, it’s only to do with the new developments in the industry. Old style producers are doing just fine; they’re even drilling more wells. They’re not slowing down.”
 

COMMENTS

  • by Really? 2/27/2015 11:47:12 AM

    I hope you know you look like an idiot for writing an article like this. The majority of layoffs happened near the end of December or in January so they wouldn't be reflected in the statistics you have used in a blatant attempt to mislead everyone. Try talking to anyone actually working in the oilpatch and you'll know how many people are not working right now. These statistics also don't reflect people who are still working but with greatly reduced hours.

  • by Really, 2 2/27/2015 12:30:41 PM

    Really, is bang on. Just shows how out of touch Stats Can is, and the big denial by Real Estate Boards and Agents. Have a property listed right now because an oil patch worker has been laid off for more than 2 months now and no end in sight. These people are suffering. Shell cancelled a big project this week and Halliburton just laid off 120 today in Saskatchewan. Maybe, just maybe, you should actually do some Real Investigative Journalism.

  • by realtorp 2/27/2015 12:43:28 PM

    Your all dumb. Rig pigs get laid off all the time it's part of the job. All my family is in the oil line in Alberta we started it about 80 years ago we formed spie pipeline and banner man. It's a cycle there was always time they had no work for 6 months and went hard for 6 months.

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