After two months of contraction, the number of people working in Alberta surged forward in November by 23,700 (1.0 per cent). According to Statistics Canada, full-time employment increased by 36,500 (1.9 per cent) last month while part-time employment decreased by 12,800 (-3.1 per cent).
Monthly job gains occurred in almost all major sectors. The exceptions are wholesale and retail trade (-1.2 per cent), educational service (-1.3 per cent) and public administration (-0.3 per cent).
Most of this improvement is due to the increase in employment but some of it is the result of a small dip in the participation rate of the labour force (-0.2 per cent). The number of people labour working and looking for work dropped by 2,500 people between October and November.
As a result, the number of Albertans who are unemployed fell by 26,200 for a 14.2 per cent drop and the unemployment rate dropped by a full percentage point to 6.3 per cent.
While the unemployment rate remains stubbornly high, the improvement since October is a welcome sign. (source: ATB Financial's Economics & Research Team)
Posted: December 07, 2018 in Economy & Government