By Sheldon Spackman

5.4 per cent

Red Deer region’s unemployment rate sees decrease in July

Aug 5, 2022 | 12:44 PM

The Red Deer region’s unemployment rate saw a significant decrease in July compared to the month before and the same month last year.

According to the latest figures from Statistics Canada, the Red Deer region’s jobless rate in July was 5.4 per cent, down from 6.9 per cent in June and 10.2 per cent in July 2021.

That compares to an unemployment rate of 5.4 per cent also seen in the Wood Buffalo-Cold Lake region, and the Banff-Jasper-Rocky Mountain House and Athabasca-Grande Prairie-Peace River regions in July.

Elsewhere, the Edmonton region’s jobless rate came in at 5.2 per cent in July, with Calgary’s at 5.1 per cent, Camrose-Drumheller at 4.9 per cent, and Lethbridge-Medicine Hat’s unemployment rate at 3.8 per cent last month.

The provincial unemployment rate was 4.8 per cent in July, down from 4.9 per cent in June, and 8.5 per cent in July 2021.

'Inspiring Student Success'

Indigenous students enjoy learning about their culture at special conference

2h ago

DON'T WASTE IT

Lacombe encouraging residents to treat water as precious resource

11h ago

Ground School Training

New aviation career pathway elevates opportunities for students

20h ago

The national unemployment rate was 4.9 per cent last month, the same as the month before, and down from 7.4 per cent in July 2021.

Minister of Jobs, Economy and Innovation Doug Schweitzer issued the following statement about the July 2022 Labour Force Survey:

“July’s job numbers demonstrate that Alberta’s economy continues to remain strong and provide diverse economic opportunities for every Albertan.

“In July, our unemployment rate dropped to 4.8 per cent, lower than the national average for the first time since 2015. An additional 15,000 full-time jobs is positive news. Both Edmonton and Calgary had strong months, with Edmonton seeing more than 3,000 new jobs and Calgary seeing more than 12,000. Both of those cities saw their unemployment numbers drop convincingly to 5.1 and 5.0 per cent, respectively.

“Economic indicators also show that Alberta’s economy continues to move forward. Alberta is seeing record exports and sales growth across industries. Additionally, housing starts are up 20 per cent in the first half of the year, the highest increase since 2015. We also continue to see more Albertans establish their own businesses. The number of businesses that were incorporated in Alberta has reached record levels, with 26,412 incorporations in the first half of 2022.

“I am confident that our work to diversify and strengthen our economy will continue to provide more opportunities for more Albertans in the months ahead.”

Meantime, July marked the second-straight month of job losses in Canada, even as the unemployment rate held steady at 4.9 per cent.

Statistics Canada reports the economy lost 31-thousand jobs last month, following on a loss of 43-thousand in June.

Senior economist Brendon Bernard says it looks like the employment recovery has shifted from the gas pedal going down strong to a more neutral gear.

Bernard says he had expected a stronger recovery in the accommodation sector after it was hard hit by the pandemic, but the momentum hasn’t materialized.

(With files from the Canadian Press)