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Gabriella Makar, MBA
RE/MAX Elite
14717 40 AV, Edmonton, Alberta
P: 780-819-7877
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Friday, October 7, 2011 -

Over 2011, Alberta’s job creation figures have impressed even the most optimistic observers. And according to data out this morning, the jobs picture just keeps getting better and better.

Employers in this province added a further 8,600 net positions to payrolls in September, the fifth consecutive month of positive job creation. The last time Alberta saw job gains for five consecutive months was in mid-2006. The unemployment rate also declined in September to 5.4%, matching its low mark of the current economic cycle.

Digging below the headlines, the data was even more interesting. The number of full-time jobs expanded by a stunning 21,400 positions and was offset by a loss of 12,800 part-time positions. The mighty oil and gas extraction category was the largest gainer, adding 10,600 positions in September. Although the gain is impressive, it really just reverses a loss of roughly the same number of jobs the month before, which means the gain is partly related to problems with
seasonality in the data.

Nationally the jobs report was similarly positive, with Canadian employment rising by 61,000 positions and blasting through expectations of a gain of 15,000. The upbeat news on the labour
market probably couldn’t come at a better time, and serves as a bit of an anchor of hope in this uncertain global economic environment. Moving forward, it is highly unlikely that Alberta’ labour market is going to be able to keep churning out jobs the way it has in the first three quarters of
2011. Nonetheless, if fears surrounding a European financial crisis and/or US recession are realized, Alberta’s labour market will be entering that period in a strong position.*

*Courtesy of by Dan Sumner
Economist
 

posted in General at Fri, 07 Oct 2011 23:23:30 +0000



Data last Updated: 2020-10-16 at 22:32:32 GMT America/Edmonton
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