March 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
Strong momentum starting 2025 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.
January 2025 data
Average daily production
3.6 million barrels
Year-over-year change
10.1%
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
70.7%
Employment
66.9%
Unemployment
5.4%
An affordable community
Real Estate Market
Inventory dropped to a 12-month low, with 3.45 months of supply on the market. That's a drop from February 2024 (4.55 months) and February 2023 (5.62 months).
Demand is behind this shift in inventory levels. Though February saw a year-over-year drop in new listings, ongoing sales growth has eaten up supply.
February 2025 data
Year-to-date average residential price
$368,301
Year-over-year increase in home sales
4.4%
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. Rents in FMWB are more than a third lower than the national average.
March 2025 report
Average 1BR rent
$1,208
Average 2BR rent
$1,422
Fort McMurray International Airport
Passenger + Flight Info
Fort McMurray International Airport announced expanded flight frequency to Edmonton, Calgary, and Toronto in January. Quick and efficient connections across Canada and around the world.
February 2025 data
Total passengers
25,740
Aircraft movements
2,741
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 50,800 vehicles - a five-year high and only 4% lower than ten-year highs.
Highway 63 data near Mariana Lake shows northbound and southbound traffic steady with 2024 levels.
January 2025 data
Avg daily vehicles Hwy 63 - Athabasca Bridge
50,800
Welcoming the world
Hotel Occupancy
FMWB hotel metrics were in line with Alberta's overall changes. Occupancy, average daily rate, and revenue per available room each saw slight YOY increases.
January 2025 data
Average occupancy
40%
