(Dreamstime)

By Sheldon Spackman

7.7 per cent

Red Deer unemployment rate holds steady in February

Mar 13, 2023 | 4:50 PM

The Red Deer Region’s unemployment rate held steady at 7.7 per cent last month, again, the highest rate among the province’s seven different economic regions.

According to the latest figures from Statistics Canada, the Red Deer region’s jobless rate in February was also up from a rate of 7.3 per cent seen in February 2022.

The Red Deer region’s jobless rate compares to a rate of 6.7 per cent in Calgary, 5.9 per cent in Edmonton, 5.6 per cent in Banff-Jasper-Rocky Mountain House and Athabasca-Grande Prairie-Peace River, 4.7 per cent in Camrose-Drumheller, 4.5 per cent in Wood Buffalo-Cold Lake, and 4.2 per cent in Lethbridge-Medicine Hat.

Alberta’s unemployment rate fell slightly from 6.0 per cent in January to 5.8 per cent in February.

The national jobless rate, meanwhile, held steady at 5.0 per cent last month.

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According to ATB Financial, seasonally-adjusted employment in Alberta increased by 0.1 per cent (1,600 positions compared to a gain of 0.9 per cent (20,700) in January.

The institution says it was a similar story nationally with employment up by 0.1 per cent (21,800) in February compared to a 0.8 per cent jump (150,000) in January.

Minister of Jobs, Economy and Northern Development Brian Jean issued the following statement about the February 2023 Labour Force Survey from Statistics Canada:

“Alberta’s government continues to set the foundation for job creation – building a business environment that promotes investment and economic growth. Employment in the province is expected to grow at a solid pace this year. Building off strong job growth in January, almost 11,000 more Albertans had full-time jobs in February. With nearly two million people employed full time, more Albertans have full-time jobs today than at any point in Alberta’s history.

“Employers are making progress filling vacant full-time positions as workers migrate to Alberta to find good-paying jobs with higher wages than the rest of the country.

“Budget 2023 keeps a strong focus on job creation, investment attraction and economic diversification, setting the stage for Alberta to remain Canada’s economic engine for years to come.

“Alberta is already leading by example when it comes to economic growth and diversification, and continues to drive more investment, more job creation, more population growth and more opportunities for Albertans. February’s numbers, paired with Budget 2023, are further proof that Alberta is open for business.”