According to ATB Financial, Alberta has said goodbye to the recession.

The Alberta Economic Outlook says there's been some modest growth in oil and gas, agriculture, food processing, tourism, retail and manufacturing but it'll likely be a few more years before a stronger, more resilient economy emerges.

In the months ahead ATB says Alberta should experience real GDP growth of around three per cent while the retail and housing sectors performance are expected to improve.

Trade talks with the U.S. pose a risk to the economy while tourism, agriculture and agri-food will continue to lead growth but the oil sector remains the key driver.

“Alberta’s economy is recovering, but it is not returning to what it looked like in 2014,” says ATB Chief Economist Todd Hirsch. “Instead, the economy is evolving into one that is more diversified, and more typical of other Canadian provinces. It is a slow process and it may be a few more years before we see a full economic recovery.”

The labour market is adding jobs—some 35,000 over the last 12 months (+1.5 per cent), though positions have tended to be lower paying and and hiring in the private sector has been lagging.