Despite Oil Price Headwinds and Slower Housing Starts, Calgary to Lead National Growth in 2026
- ClearView Insider
- Jan 24
- 1 min read
Calgary’s economy is expected to post 2.4% GDP growth in 2026—up from 2.1% last year and the strongest among major Canadian cities, according to the Conference Board of Canada. The report acknowledges headwinds like soft oil prices, fewer housing starts, and slowing migration, but points to steady job creation and major infrastructure projects like the $6.2B Green Line LRT as key momentum drivers.
While job growth will slow from the 30,000 new roles added in 2025, Calgary’s unemployment rate is expected to decline thanks to moderating population inflows. Notably, Calgary surpassed one million jobs for the first time in 2024. Sectors poised for growth include transportation, warehousing, and health care.
With oil expected to average just $51 USD/barrel and trade volatility on the horizon, Calgary’s diversification into aerospace and tech is paying off. Despite reduced housing starts from 2025’s record-setting 27,000 units, construction activity will remain strong. The city’s growth strategy continues to position it ahead of the national curve.
Source: Calgary Herald, “Varcoe: Even with volatile oil prices and a slowing housing market, Calgary's economy projected to grow this year,”
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