Calgary is recognized as a Canadian leader in the oil and gas industry as well as for being a leader in economic expansion. Its high personal income, low unemployment and high GDP per capita have all benefited from increased sales and prices due to a resource boom, and increasing economic diversification. Because of these strengths, Calgary is designated as a global city by the Globalization and World Cities Research Network. Also, Calgary was one of the top 200 cities worldwide, by the Brookings Institution, that had a top performing local economy for 2011. The city was ranked first nationally, and 51st in the world, in that aspect.
Calgary benefits from a relatively stronger job market in Alberta, is part of the Calgary-Edmonton Corridor, one of the fastest growing regions in the country. It is the head office for much major oil and gas related companies, and many financial service businesses have grown up around them. Small business and self-employment levels also rank amongst the highest in Canada. It is also a major distribution and transportation hub with high retail sales.
Calgary's economy is decreasingly dominated by the oil and gas industry, although it is still the single largest contributor to the city's GDP. In 2006, Calgary's real GDP (in constant 1997 dollars) was C$52.386 billion, of which oil, gas and mining contributed 12%). The larger oil and gas companies are BP Canada, Canadian Natural Resources Limited, Cenovus Energy, EnCana, Imperial Oil, Suncor Energy, Shell Canada, TransCanada, and Nexen, making the city home to 87% of Canada's oil and natural gas producers and 66% of coal producers.
As of 2010, the city had a labour force of 618,000 (a 74.6% participation rate) and 7.0% unemployment rate. In 2006, the unemployment rate was amongst the lowest of the major cities in Canada at 3.2%, causing a shortage of both skilled and unskilled workers.
In 2010 the "Professional, Technical and Management" Industry accounted for
