Year-over-year unemployment is up nearly two percentage points.--NEWS FILE PHOTO
@MedicineHatNews
The unemployment rate in southern Alberta jumped nearly two percentage points in November, according to year-over-year figures released Friday by Statistics Canada.
The Medicine Hat-Lethbridge figure rose to 6.2 per cent during the month, up 1.9 points from late 2023, though down slightly from the previous month.
The apparent disconnect appears due to changes in the size of the labour force, and is why economists prefer the year-over-year comparisons to account for seasonal activity and labour force changes.
The recent figure is above the rate of 4.3 per cent in November 2023, when 7,400 workers in the region were considered unemployed. That is 3,000 fewer than the current total (10,400), as well as the October figure of 11,500.
Overall, 156,500 people in Medicine Hat-Lethbridge were employed last month, down from 163,000 one year earlier.
The Alberta provincial rate also rose in November by 1.5 points to 6.8 per cent.
Calgary’s rate of 7.3 per cent also was 1.9 points higher, while Edmonton (7.4 per cent) and Camrose-Drumheller (4.3 per cent) saw similar increases. Wood Buffalo’s figure was 5.8 per cent, while the rate in Red Deer (6.9 per cent) was down by one full point and Banff-Grande Prairie’s fell slightly (4.0).
Rates in Saskatchewan (5.0) and British Columbia (5.5) also rose as the national rate jumped to 6.1 per cent.
In Saskatchewan, the jobless rate in Swift Current-Moose jaw region was one point higher at 5.2 per cent.
In near portions of British Columbia, the rate in the Kootenay region plunged 3.3 points to sit at just 3.6 per cent last month.
