Alberta’s employment market bounces back
Jun 09, 2014
After a minor drop of 2,900 jobs in April, Alberta’s economy showed a strong rebound in May with the addition of 16,400 new jobs (a 0.7% increase from April). This increase helped the province’s unemployment rate fall a tenth of a percentage point to 4.6%.
Statistics Canada’s latest Labour Force Survey (LFS) reports Alberta added more jobs to its economy than any other province in May. The part-time job market shed 2,800 positions but that fall was offset by an impressive increase of 19,200 full-time jobs. The large gains in full-time positions helped push Alberta’s job market ahead of its provincial counterparts’.
The most recent employment increase contributed to year-over-year gain of 71,200 new jobs, a 3.2% yearly increase. That’s the highest growth rate of any province, putting the employment market well in line with the province’s bold economic indicators (retail sales, housing starts, energy production).
There was very little change in employment numbers amongst the nine other provinces. Canada’s unemployment rate remained virtually unchanged at 7.0%, a 0.1% increase from the previous month. Still, the Canadian economy found itself ahead of expectations with 25,800 jobs added in May.