State economies have raised exceptional concern among economists. The article, ‘Alberta economy slips further on lower oil prices’, published in InFocus, is among the publications that offer an analysis of the economic conditions of given states. The article establishes that recently Alberta has experienced a slip in its economy due to fallen oil prices. The incidence triggered The Treasury Board and Finance to embark on efforts to review Alberta’s current economic situation. Hence, the article aims at providing an analysis of the economic proceedings that drove Alberta into its current economic status.
The author begins by informing the audience that in 2015, oil prices assumed a downward trajectory. The weakness in oil prices was thus responsible for weighing down Alberta’s economy. The author informs the reader that in 2015, Alberta saw a halt in its economic expansion after five years of outstanding growth. Offering a detailed background of Alberta’s preceding economic status, the author has managed to portray how the plummet in oil prices has been detrimental to the state’s economy. The article is informative, as it addresses the manner in which a decline in activities in the energy sector is responsible for causing a ripple effect in other sectors of the economy. Typically, a state’s economic condition revolves around diverse aspects. Among the indicators of the Alberta’s economic condition are retail sales, employment rate, labor market, and investment rate. Therefore, the editorial highlights how the conditions in the housing and business sector of Alberta have affected the other sectors. Population growth seems to slow along with the labor market. Similarly, the ongoing economic ambiguity has dampened both business and consumer confidence. At the closure of 2015, not solely did the labor market of Alberta deteriorate, but also the state’s employment plunged. Further, the article underlines how the deterioration in labor market led to a shrink in consumer spending.
The author enhances the article’s credibility by comparing Alberta’s economic statuses over different years. This enables the reader to have a clear image of the extent to which the state’s economy has plummeted. Ultimately, the article proves resourceful because it does not solely provide a theoretical analysis, but it also borrows heavily from other credible sources, such as Statistics Canada.
Treasury Board and Finance. Economic Trends: Alberta economy slips further on lower oil
prices. Web. February 4, 2016.
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