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Job numbers show recovery isn't so easy

Job numbers show recovery isn't so easy

Posted on: 3/9/2018 | Author: ATB Financial's Economics + Research Team

​​February’s job report shows Alberta gained 2,300 net new jobs. At first glance, this looks positive, but diving deeper into the data, the news is less encouraging.

The job report shows there was also loss of 10,500 full-time jobs in the same month. The majority of the job losses centred around maintenance jobs, professional, scientific and technical services as well as information, culture and recreation.

After a rough couple of months, part-time jobs jumped ahead by 12,800 positions. While gains were made, this still suggests the number of new jobs created were not of great quality.

Finally, Alberta’s unemployment rate fell to 6.7 per from 7.0 cent in January. Like the total job number, the unemployment rate decline looks promising. However, it has more to do with a decline in the labour force than the actual net employment gains.

Many important economic indicators show Alberta’s economy has moved out of recession—job numbers themselves had been trending this way for the last two months—but it’s important to remember that the path back to a stable recovery is not always easy.

Change in employment, graph​ ​

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