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The Brief: Economic Snapshot for Winter 2024

BCA Podcasts

Release Date: 11/18/2024

C-Suite Unplugged: Trevor Haynes, Chairman & CEO of Black Diamond Group show art C-Suite Unplugged: Trevor Haynes, Chairman & CEO of Black Diamond Group

BCA Podcasts

BCA President Adam Legge is joined by Trevor Haynes, Chairman and CEO of Black Diamond Group, for an inspiring conversation on C-Suite Unplugged. Black Diamond Group is one of North America’s leading providers of modular space and workforce accommodation solutions. As Chairman and CEO, Trevor offers a rare inside look at what it takes to lead a company that builds the spaces where people live, learn, and work—including what a typical day looks like in his role and how he approaches decision-making at scale. He also reflects on the journey that led him here, from a childhood spent moving...

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C-Suite Unplugged: Cathy Orr, President & CEO of RGO Products show art C-Suite Unplugged: Cathy Orr, President & CEO of RGO Products

BCA Podcasts

BCA President Adam Legge is joined by Cathy Orr, President and CEO of RGO Products, for an inspiring conversation on C-Suite Unplugged. Cathy shares her journey from growing up in a family deeply woven into Calgary’s business community to leading RGO. She reflects on her early career, pivotal moments, and the lessons passed down from her father, Ross Glen, a titan of Calgary business, philanthropy, and community. Adam and Cathy dive into the evolution of RGO, from a private, family–owned company in Calgary incorporated in 1966 with roots selling typewriters, to a modern leader in...

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The Brief: What’s brewing behind coffee prices show art The Brief: What’s brewing behind coffee prices

BCA Podcasts

Have you noticed that your cup of coffee costs more than usual? A daily cup of joe may become the most bitter expense in Canadian budgets.  Canadians may need an extra shot of caffeine just to stomach the price of their morning brew. Coffee prices have spiked 25% since January, the steepest jump since the mid-1990s. For years, coffee drinkers enjoyed a sweet deal: incomes rose faster than coffee costs, tea nearly tripled, alcohol quintupled, but coffee stayed steady. Now, a whirlwind of tariffs has percolated through the supply chain, leaving Canadian consumers to pick up the tab. ...

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Welcome to BCA Podcasts show art Welcome to BCA Podcasts

BCA Podcasts

Welcome to BCA Podcasts, your front-row seat to the conversations shaping Alberta’s future, produced by the Business Council of Alberta. On C-Suite Unplugged, we’re demystifying the role of CEO. Alberta’s top business leaders share their journey to the top, what drives them, and their unique vantage point on their business and industry. C-Suite Unplugged goes beyond the boardroom to get an inside look at the people behind the title. On The Brief, we take you inside the issues that matter most. From economic analysis to breaking down government policy, The Brief brings clarity, context,...

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The Brief: Rethinking Local Leadership in Alberta show art The Brief: Rethinking Local Leadership in Alberta

BCA Podcasts

How do we build stronger, safer, and more prosperous communities across Alberta? In this special episode of The Brief, guest host Lily Dupuis sits down with Murray Cunningham, President & CEO of Scott Builders, and Michael (Mike) Brown, President & CEO of Trico Homes. Together, Murray and Mike co-chair the Business Council of Alberta’s Task Force on Business Priorities for Alberta's Local Governments, which provided a foundation for BCA's newest report, , focusing on bold recommendations for the future of our cities, towns, and communities. Murray and Mike share their own career...

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The Brief: Is Flying Canada's Ticket to Affordable Transportation? show art The Brief: Is Flying Canada's Ticket to Affordable Transportation?

BCA Podcasts

As the world’s second-largest country by landmass, but ranked 188th in population density, Canada depends on air travel as a crucial part of its transportation infrastructure. BCA's economists recently unpacked the issue of why flying costs more in Canada than elsewhere in their latest commentary, so podcast host Scott Crockatt invited former WestJet executive and airline industry expert Richard Bartrem onto the podcast to dive into the findings and hear some of Richard's own insights. Richard argues that while airline fares have fallen in half, government fees have increased more, and...

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The Brief: Mike Holden on why Bill C-5 is a good start, but not a complete strategy show art The Brief: Mike Holden on why Bill C-5 is a good start, but not a complete strategy

BCA Podcasts

Bill C-5 — otherwise known by its full name, An Act to enact the Free Trade and Labour Mobility in Canada Act and the Building Canada Act — is now officially law. While the name may be a mouthful, its goal is clear: to finally fix what Canada has long struggled with, which is getting major projects approved and built faster. But is C-5 just what the economy ordered, or will it struggle to achieve its intentions and become another overpromised, underdelivered piece of policy? Scott Crockatt is joined by BCA's VP of Policy and Chief Economist Mike Holden to answer this very question.  ...

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The Brief: Tyler Meredith and a Liberal Government Temperature Check show art The Brief: Tyler Meredith and a Liberal Government Temperature Check

BCA Podcasts

In this episode of The Brief, host Scott Crockatt is joined by Tyler Meredith, founding partner of Meredith Boessenkool and Phillips and a leading Canadian policy and economic advisor who served eight years in the Canadian government.  Meredith, a former Canadian government advisor, highlights three key issues: managing the threat of Donald Trump, addressing economic concerns (particularly underinvestment and promoting competition), and fostering national unity. He emphasizes Carney's market-based progressive approach, focusing on solving macroeconomic problems. Regarding energy...

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C-Suite Unplugged: Rich Kruger, President & CEO of Suncor show art C-Suite Unplugged: Rich Kruger, President & CEO of Suncor

BCA Podcasts

BCA President Adam Legge is joined by one of the most iconic leaders in Canada's energy sector, Rich Kruger, President and CEO of Suncor Energy, for a very special interview on C-Suite Unplugged. Rich talks about a career in the oil and gas industry that spans over 40 years and some of the roles that took him from Minnesota to Texas to the former Soviet Union, the Middle East, Southeast Asia, and now here in Alberta.  Adam and Rich talk about philosophies of life and leadership, including lifelong learning, embracing similarities across continents and cultures, and the 'living organism'...

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The Brief: Assessing Alberta’s Economy - The good, the bad, and the urgent show art The Brief: Assessing Alberta’s Economy - The good, the bad, and the urgent

BCA Podcasts

Host Scott Crockatt sits down with BCA's economists Mike Holden and Alicia Planincic to discuss the good, the bad, and the uncertain of BCA's recently-released Spring 2025 Economic Snapshot. In an episode filled with anecdotes, analogies and silver linings, the group chats about what it takes to build an Alberta economic outlook at a time when uncertainty seems to be the only certainty in global markets.  This edition of the bi-annual Alberta Economic Snapshot comes at a time of both strength and strain. Alberta continues to lead Canada in population growth, but even with that, most...

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More Episodes

The BCA team dives into many of the leading and lagging economic indicators that tell us a bit about where Alberta's economy stands compared to the summer snapshot. They also dive into some of the political developments both nationally and globally and what they could mean for Alberta and Canada's economic forecast into 2025.

There are several positives in Alberta's outlook. The Bank of Canada's interest rate hikes seem to have set Canada's economy up for the 'soft landing' they hoped for, curbing consumption and inflation without significant job losses. Meanwhile, Alberta continues to be the economic engine of Canada, significantly outperforming the rest of the country in jobs and economic growth. However, the Alberta and Canadian economies are showing signs of slowing, with job growth decelerating over the past 6-8 months. 

Certain "good" sectors like manufacturing, construction, and oil/gas have seen job growth level off after strong gains earlier. This suggests consumer demand has weakened. Newcomers and recent immigrants are being hit particularly hard, with their unemployment rate rising from 10% to 15% over the past year.

Interest rate hikes have started to be reversed, but the full impact of past increases has not yet been felt in the economy. It takes time for rate changes to filter through. The federal government's planned cuts to immigration levels could have significant impacts, though there are questions around whether the full extent of the cuts will actually materialize.

The housing market is seeing a surge in construction activity, especially in Alberta compared to other regions, but it is yet to be seen how this will play out given Canada's anticipated pullback in population growth.

Globally, central banks are seen as having tamed inflation, but there are risks around rising protectionism that could impact the economy.

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About the Business Council of Alberta

The Business Council of Alberta was founded on a simple idea: to make life better for all Albertans. We believe that business has an important role in improving society, and that when business does well, we all do well. We work with the chief executives and leading entrepreneurs of Alberta’s largest enterprises to understand the big, long-term challenges that Albertans are facing and work with industry, government, and civil society to solve these problems and build shared prosperity for every person who calls Alberta home.

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