Along with supportive government and monetary policies, recent news of COVID-19 vaccinations have improved the global economic outlook for 2021.
The progress of vaccine distribution in Edmonton will be an important variable in the city’s economic performance in 2021. In the fourth quarter of 2020, the provincial government introduced additional public health measures to respond to rising case counts.
However, employers in the Edmonton region appear to be adapting. Employment in the Edmonton region improved in Q4 2020, albeit unevenly across sectors and job type.
Construction activity showed some improvements overall, with a strong performance in quarterly housing starts and increases to residential building permit values; though non-residential construction intentions appear to still be struggling.