December 2024 - Updated Monthly
FMWB Economic Dashboard
Fort McMurray Wood Buffalo has the energy to power Canada's economy. Gain insight on the local picture with these key indicators.
Fort McMurray Wood Buffalo is one of the most affordable rental markets in the country – rents are about one-third lower than the national average. That means that newcomers to our community can focus on the success of their family. Affordability is an important competitive advantage – one of many advantages in FMWB.
Lisa Sweet, Interim CEO
Canada's energy centre
Oil Sands Production
Oilsands production is up by over a million barrels per day since 2015.
October avg daily production
3.5 million barrels
Year-over-year change
9.6%
Wood Buffalo - Cold Lake Labour Force
Workforce Update
All three labour metrics dropped in our region in November. Unemployment in FMWB is below Alberta and National averages, but a drop in the participation rate indicates some job seekers may have stopped looking for work. November 2024 data
Participation
72.0%
Employment
67.8%
Unemployment
5.8%
An affordable community
Real Estate Market
Activity in the real estate market remained strong in November. Inventory levels and days on market are in the mid-points of five-year ranges. There's good momentum heading into 2025.
November 2024 data
Year-to-date average residential price
$372,587
Year-over-year increase in home sales
41.8%
Bucking the national trend
Rental report
Alberta and Saskatchewan rank well for rental affordability among small- and mid-sized markets. Among markets with at least 50 rental listings, only Lloydminster had lower asking rates for rent. December 2024 report
Average one bedroom
$1199
Average two bedroom
$1422
Fort McMurray International Airport
Passenger + Flight Info
Passenger traffic remains above five-year averages, but well below peak numbers. November 2024 data
Total passengers
27,064
Aircraft movements
2,790
Infrastructure to grow
Traffic Counts
Highway 63 is a high-quality twinned route and the region's principal roadway. This vehicle count is for northbound and southbound traffic in control section 10, immediately south of Fort McMurray. October 2024 data
Average daily vehicles
7,994
Welcoming the world
Hotel Occupancy
Occupancy rates remain well below record levels in FMWB, but Travel Alberta notes strong year-over-year gains in our region. October 2024 data
Average occupancy
54%
