Local unemployment rate highest since 2021: Stats Can

By Medicine Hat News on March 9, 2024.

Medicine Hat News

The local jobless rate doubled to 8 per cent in February, according to new statistics for the combined Lethbridge-Medicine Hat economic region, which statistics reveal is also adding jobs but not as fast as growth in population.

The figure – up from 4.2 per cent in February 2023 and 7.4 per cent since January – is the highest since May 2021.

Statistics Canada does not separate out local conditions from the larger economic region that includes most areas south of Calgary, but states the area has seen labour force growth of about 18,000 workers over the course of one year.

That means that even though 12,000 more jobs were reported comparing last month to one year earlier, about 6,000 more people were considered unemployed in the recent figures, about 14,200 in total.

Full-time work was substantially higher year over year, rising by about 12 per cent to 128,000 out of total labour force of 154,000.

Provincially, the jobless rate was one half point higher at 6.5 per cent in February even though 93,000 more positions were added.

“Alberta’s labour market continues to show strength, with more Albertans employed in February than at the same time last year,” read a statement from Jobs, Economy and Trade Minister Minister Matt Jones.

“While Alberta only accounts for 11.7 per cent of Canada’s population, our province leads the nation in net employment growth, with 42.8 per cent of the country’s employment gainsâ€¦ Our province leads the nation in net employment growth and last week, the Canadian Survey on Business Confidence showed optimism among Alberta businesses was up considerably over the last 12 months, out-pacing the rest of the country.”New Democrat critic for jobs, MLA Nathan Ip, said the ministry is painting too rosy a picture of the job market.”We continue to experience higher rates of unemployment than the Canadian average, higher than the other western provinces,” he said in a release.”People coming to Alberta are not able to find meaningful work once they get here. Our employment rate isn’t keeping up with our influx of people looking for opportunities.”

“Danielle Smith’s ‘Alberta is calling’ campaign needs to come with an asterisk that says: but there may be no job, health care or education when you get here.”

The latest month also saw Edmonton unemployment rates rise of 1.1 points to sit at 7 per cent, while Calgary’s rate fell slightly to 6.3 per cent.

The rate in Camrose-Drumheller sat at 4.8 per cent, equal to the Banff and northwest Alberta. Wood Buffalo in northeast of the province sat at 5.0 per cent. Red Deer’s jobless rate of 6.9 per cent was down eight-tenths of a point.

The national rate

Saskatchewan’s rate also rose to 5.0 per cent, with the near region of Moose Jaw-Swift Current following the trend to sit at 4.7 per cent.