April 15, 2024

Features in lots of sectors, together with the oilsands, have been offset by losses in sectors like retail.

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The census area overlaying Fort McMurray Wooden Buffalo noticed unemployment go up and the labour drive shrink final month, in response to knowledge from Statistics Canada. Employment positive aspects in lots of sectors, together with the oilsands have been offset by steep job losses in different sectors. The largest losses have been reported in retail and help companies for companies and buildings.

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February unemployment for the Wooden Buffalo-Chilly Lake census area rose to 5 per cent from 4.8 per cent in January. Employment dropped to 69.8 per cent from 70.9 per cent. Employment in February 2023 was 71 per cent and unemployment was 4.5 per cent. Unemployment within the final 12 months peaked in August at six per cent.

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The participation fee—which measures how a lot of the inhabitants is working or actively in search of work—dropped to 73.4 per cent final month. The speed was 74.5 per cent in January and 74.3 per cent in February 2023.

The labour drive shrank by 1,100 positions in February from January, however grew by 1,400 positions from February 2023. The area misplaced 1,500 full-time jobs and gained 400 part-time jobs from January, however respectively gained 800 jobs and 100 jobs from February 2023. From January, job positive aspects and losses in February have been:

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  • The sector overlaying the oilsands gained 600 positions.
  • Instructional companies gained 200 jobs.
  • Lodging and meals gained 100 jobs.
  • Development gained 100 jobs
  • Skilled, scientific and technical companies gained 100 jobs.
  • Retail misplaced 600 jobs.
  • Enterprise, constructing and different help companies misplaced 400 jobs.
  • The sector marked “different” misplaced 300 jobs.
  • Well being care and social companies misplaced 200 jobs
  • Transportation and warehousing misplaced 100 jobs.
  • Finance, insurance coverage, actual property, rental and leasing companies misplaced 100 jobs.
  • There have been no reported adjustments in public administration.

Alberta’s unemployment fee stagnated at 6.2 per cent. Nathan Ip, Alberta NDP critic for jobs, economic system and commerce, mentioned in a press release that Alberta’s unemployment was 5.9 per cent in February 2023. Ip additionally mentioned Alberta’s unemployment continues to be greater than Canada’s common of 5.8 per cent in February, and better than the opposite western provinces.

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“Folks coming to Alberta are usually not capable of finding significant work as soon as they get right here. Our employment fee isn’t maintaining with our inflow of individuals in search of alternatives,” he mentioned.

“Danielle Smith’s ‘Alberta is looking’ marketing campaign wants to return with an asterisk that claims: *however there could also be no job, well being care or training while you get right here.”

 Alberta’s Minister of Jobs, Economic system and Commerce Matt Jones countered that Alberta’s employed extra individuals in February than throughout the identical interval final 12 months. He mentioned employment was up 17,400 from January and had risen 4.1 per cent from February 2023. The labour drive was 2.5 million and full-time jobs jumped to greater than 2 million.

“Whereas Alberta solely accounts for 11.7 per cent of Canada’s inhabitants, our province leads the nation in web employment development, with 42.8 per cent of the nation’s employment positive aspects,’ he mentioned in a press release.

“With a extremely expert workforce, business-friendly insurance policies, diversified economic system and inexpensive, distinctive life-style, Alberta continues to be the financial engine of Canada.”

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