By rdnewsNOW Staff

6.6 per cent

Red Deer area unemployment rate heads lower

Dec 3, 2021 | 4:32 PM

The Red Deer Economic Region’s unemployment rate continued its downward trend in November.

According to the latest Labour Force Survey by Statistics Canada, Red Deer and the surrounding area had an unemployment rate of 6.6 per cent in November, down from 7.8 per cent in October and a high of 10.6 per cent in April, and 10.4 per cent in November 2020.

Meantime, the region’s employment rate rose 5.8 per cent from November 2020 to November 2021, going from roughly 101,000 individuals employed to 106,900 during the past 12 months.

Elsewhere, Camrose-Drumheller posted the highest unemployment rate in the province last month at 8.9 per cent, while Calgary posted a rate of 7.7 per cent, Edmonton 7.0 per cent, Banff-Jasper-Rocky Mountain House and Athabasca-Grande Prairie-Peace River 6.7 per cent, Wood Buffalo-Cold Lake 6.1 per cent, and Lethbridge-Medicine Hat 5.5 per cent.

Last month, the jobless rate in the province was 7.6 per cent, the same as it was in October.

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Meantime, the national unemployment rate came in at 6.0 per cent last month, down from 6.8 per cent in October and 8.2 per cent in November of last year.

“November’s job numbers show Alberta’s economic momentum is continuing to build, with an increase of 15,000 new jobs,” said Minister of Jobs, Economy and Innovation, Doug Schweitzer. “In November, we saw the largest tech sector investment in Alberta’s history from Amazon Web Services, as well as a new ground-breaking investment from Northern Petrochemical, collectively creating more than 5,000 jobs in our province. We also announced nearly $850 million in investment from four agricultural projects that will create nearly 2,000 jobs.”

“We’ve continued to see signs of revival in our energy industry, with oil and gas production and exports at all-time highs,” continued Schweitzer. “The third-quarter venture capital investment numbers show that our province has set another record in 2021, with three months still to go. This year was the year that Alberta got our swagger back. Next year will be the year we prove to the world that we are the absolute best place to invest, create jobs and raise your family.”

NDP Economic Development and Innovation Critic Deron Bilous released the following statement regarding the November jobs numbers from Statistics Canada:

“While it’s always encouraging to see some jobs added, there are several concerning trends in Alberta’s job market.

“Last month, 4,000 full-time jobs were lost and Alberta’s unemployment rate remained unchanged. Alberta’s 7.6 per cent unemployment rate remains higher than the national average of six per cent and significantly higher than Ontario, Quebec, and our neighbouring provinces.

“All Albertans are being hit with steeply rising costs and a growing unaffordability crisis. The UCP is making this situation worse by forcing Alberta to pay more income tax, more property tax, more school fees, more tuition, more interest on student debt, more camping fees, more for utilities and more for car insurance.”