Alberta unemployment rate 2nd lowest in the nation
Alberta’ unemployment rate continued to be one of the lowest in the nation registering at 4.5 per cent in January. This is only second to Saskatchewan at 4.0 per cent, according to Statistic Canada.
Alberta saw an impressive employment gain of 9,700 positions from December, up 0.4 per cent. On a year-over-year basis, Alberta’s employment has grown by 1.9 per cent.(41,000 new positions).
What was even more impressive was the fact that almost 90% of jobs created (8,600) were full time, said Todd Hirsh, senior economist from ATB Financial.
The majority of the jobs gains in Alberta were in the finance, insurance and real estate (6,800), business support services(5,500), and construction(4,800).
“January’s jobs report continues to portray Alberta’s labour market as healthy and balanced,” Hirsh said. “New jobs are being created to accommodate interprovincial and international migrants, but not so many that wages or labour shortages are in danger of overheating. In the months ahead, it is certainly possible, even likely, that the pace of new job creation will slow, particularly given the challenges in the energy sector. That should not be the cause of too much alarm, however. With 4.5 per cent unemployment, the economy is more than capable of managing a more moderate job market.”
With Alberta’s economy booming, their real estate market is set to flourish in 2013. Check out our Alberta real estate investment opportunities on our projects page and share this news with your friends!