Navigate Up
Sign In
Job gains move labour market towards recovery

Job gains move labour market towards recovery

Posted on: 1/8/2019 | Author: ATB Financial's Economics + Research Team

​​In an effort to boost itself into recovery, Alberta’s labour market added 21,600 more jobs in 2018 compared to 2017. The increases are a step towards improving the province’s unemployment rate, that has been struggling to get below the national average for three years. While it did go down slightly in 2018, landing at 6.7 per cent, there is still much work to be done.

Health care and social assistance added the most jobs by the end of last year, with 23,400 more positions made available. Significant job gains also occurred in business, building and other support services (+11,800) as well as manufacturing (+10,000).

Contrary to what many believe, it was the private—not public—sector that created the province’s total of net new jobs. At the end of 2018, 14,600 private sector jobs were added to the economy compared to 2,100 public sector jobs. About 5,000 more Albertans were considered self-employed.

Despite these gains, several job categories saw large declines. Wholesale and retail (-18,000) and finance, insurance, real estate, rental and leasing (-10,300) saw the biggest drops. Smaller job losses occurred in agriculture, construction, transportation and warehousing. There were 600 jobs lost related to oil extraction and other natural resources.

There's little doubt ongoing pipeline capacity constraints will keep Alberta’s unemployment rate higher than the national average in 2019 and 2020. However, with job creation in other sectors, the province’s employment situation is expected to improve, though at a slow and patchy pace.

New vehicle sales, graph

Share this article:

GlassdoorThis icon serves as a link to download the
eSSENTIAL Accessibility assistive technology app for individuals with physical disabilities. It is
featured as part of our commitment to diversity and inclusionDiversity and Inclusion

About ATB | Contact Us | Find a Branch or ABM | Current Rates | Privacy and Security | Legal | Code of Conduct | Site Map | Supplier Resources

©ATB Financial 2019. All rights reserved. ATB Financial is a trade name/registered trademark.

ATB Financial