Calgary Sees Boost in Employment Amid National Trends
Canada's labour market showed significant strength in October, adding 67,000 positions nationwide for the second consecutive month of growth. This surge pushed the national employment rate to 60.8 per cent, while the unemployment rate saw a welcome dip to 6.9 per cent.
Locally, however, Calgary's labour market presents a more nuanced picture. While Alberta recorded notable employment gains, Calgary’s unemployment rate edged up to 7.7 per cent in October, from 7.4 per cent in September. This stands above the national average and highlights a persistent trend where Calgary's unemployment rate has often exceeded the national figure.
The slight increase in Calgary's unemployment rate isn't primarily due to widespread layoffs. Instead, it largely reflects the city's robust population growth, with new residents entering the job market at a faster pace than new positions are created. Despite robust job growth, including a 3.3 per cent increase in employment over the past year (September figures), the influx of job seekers means the labour market is working to absorb a rapidly expanding workforce. This dynamic underscores both the city's attractiveness and the ongoing challenge of aligning job creation with its booming population.
