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Job vacancy rates inch lower

Job vacancy rates inch lower

Posted on: 1/10/2019 | Author: ATB Financial's Economics + Research Team

​​The latest snapshot of job vacancies in Alberta suggests the job market may have taken a pause in the third quarter of 2018. In that quarter, 2.9 per cent of the jobs were waiting for qualified candidates, down from 3.0 per cent the previous quarter.

The job vacancy rate measures the tightness of the labour market by looking at how many jobs are going unfilled. A high vacancy rate suggests employers are having a hard time filling positions, indicating strength in the economy. A low rate implies a struggling economy, with fewer “HELP WANTED” signs in the windows.

According to Statistics Canada, the highest job vacancy rates were in the Banff-Jasper-Rocky Mountain House region and the Grande Prairie-Peace River region, both at a strong 4.6 per cent. The lowest rate was 2.7 per cent in Edmonton.

Despite the dip in job vacancies in the third quarter, Alberta’s job market has shown improvement since the lowest point of the recession two years ago. However, when data for the fourth quarter and early 2019 become available, the numbers could point to a flat-lining of the job vacancy rate or another drop as companies struggle to manage the late-2018 dip in oil prices.

New vehicle sales, graph​​​​​​

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