April 2025 - 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.
Our economy is well prepared for a year of uncertainty. Oil sands production is at record highs, and their operations are more efficient than ever. Employment has remained high while our community has welcomed new residents. The real estate market remains affordable, and a low inventory level should encourage new home building.
2025 may throw some curveballs but FMWB is resilient. We have the people, the land, and the resources to continue our economic growth.
Lisa Sweet | Interim CEO
Canada's energy centre
Oil Sands Production
10% YoY increase from Jan 2024 to Jan 2025. -2.2% decrease Feb 2024 to Feb 2025. Strong momentum or a swell before U.S. tariffs were expected to begin? Key US refineries depend on heavier oil sands crude, so changes to the US energy supply chain would require significant time and investment.
FMWB has the production capacity and the reserves for decades of reliable energy production.
February 2025 data (2-month lag time)
Average daily production
3.39 million barrels
Year-over-year change
-2.2%
Wood Buffalo - Cold Lake Labour Force
Workforce Update
Alberta's labour market is clearly divided between the Calgary-Edmonton corridor and the rest of the province. FMWB, Grande Prairie, Lloydminster, and Lethbridge are all showing unemployment rates significantly lower than larger centres.
Calgary and Edmonton were both in the Top-5 fastest growing metros in Canada last year. Population growth is likely a significant driver behind these numbers, though a cautious outlook regarding the impact of U.S. tariffs may be contributing.
February 2025 data
Participation
71.6%
Employment
67.7%
Unemployment
5.4%
An affordable community
Real Estate Market
"Sales in March increased 18.9 percent year over year. March saw a 17.6 percent increase in new listings, leading to a 13 percent decrease in inventory levels year over year. With 381 units in inventory and 113 sales, the months of supply for March fell to 3.37 months, and was down 27% year over year. Year-over-year average prices are up 4 percent. Prices fell for semi detached housing (-9%), but rose for detached (10%), row (22%) and apartment (8%)."
March 2025 data
Year-to-date average residential price
$368,976
Year-over-year increase in home sales
18.9%
Nation-leading affordability
Rental report
Stability is the theme in FMWB's rental market. After avoiding the massive surge in rental prices that was seen across much of Canada, FMWB has continued to lead the nation in affordability in the beginning of 2025. Rents in FMWB are 41% lower than the national average.
March 2025 report
Average 1BR rent
$1,254
Average 2BR rent
$1,397
Fort McMurray International Airport
Passenger + Flight Info
Fort McMurray International Airport announced expanded flight frequency to Edmonton, Calgary, and Toronto in January. This shows in the 23% YoY increase in aircraft movements whereas Jan 2025 saw a 36% YoY decrease. Quick and efficient connections across Canada and around the world.
March 2025 data
Total passengers
25,585
Aircraft movements
3,188
Infrastructure to grow
Traffic Counts
There is greater activity on the roads around FMWB. Traffic on Highway 63 across the Athabasca River bridge had a daily average of 54,480 vehicles.
March 2025 data
Avg daily vehicles Hwy 63 - Athabasca Bridge
54,480
Welcoming the world
Hotel Occupancy
Occupancy rates in February were slightly down across the province year-over-year, with Calgary & Area seeing the biggest decline. Fort McMurray is one of the few places that did not see a decrease in occupancy rate, with a 0% change YoY.
February 2025 data (1-month lag time)
Average occupancy
46%
