Unemployment increased in Alberta in August
Full-time employment lost ground while part-time work increased
By Rob Roach, ATB Economics 9 September 2022 1 min read
According to the latest Labour Force Survey results, Alberta’s seasonally-adjusted unemployment rate went from 4.8% in July to 5.4% in August—the first increase in almost a year.
Employment in the province slipped by 0.3% (6,500 positions), with full-time jobs down by 1.0% (19,600) in August compared to July and part-time jobs up by 3.1% (13,100).
The participation rate remained unchanged in August at 68.8%.
It was a very similar picture nationally with the unemployment rate rising from 4.9% in July to 5.4% in August and total employment declining by 0.2%.
As was the case in Alberta, full-time jobs in Canada pulled back while part-time positions increased.
While labour market conditions in both Alberta and the country as a whole remain tight, the slight loosening in August points to the cooling of the economy that is expected to accompany the rise in interest rates.
Answer to the previous trivia question: At $323 billion, Alberta’s real GDP in 2021 was larger than the combined real GDP of the four Atlantic provinces, Manitoba, Saskatchewan, and the three territories ($256 billion).
Today’s trivia question: Which province has the larger economy: Alberta or British Columbia?