Alberta's unemployment rate fell last month, dropping back to where it sat back in June 2023.
Statistics Canada released its August 2023 Labour Force Survey on Friday, which showed Alberta's jobless numbers dropping four-tenths of a percentage point to sit at 5.7 per cent, compared to 6.1 the month before.
According to the report, Alberta was one of three provinces to see employment rise in August, while other provinces saw either little change or a decline in employment.
Alberta's employment increased by 18,000 in August (+0.7per cent), marking the province's second consecutive monthly increase.
Statistics Canada noted that in the 12 months to August, employment in the province rose by 99,000 (+4.1per cent) and coincided with fewer job vacancies posted for the province, falling from 98,000 in June 2022 to 87,000 in June 2023.
Alberta's Minister of Jobs, Economy and Trade Matt Jones says Alberta’s inflation rate has generally been below the national average – while average weekly earnings are seven per cent higher than the national average.
"Long term, the employment trends are favourable too. In the last 12 months, Alberta’s employment has grown by 4.1 per cent, above the national average of 2.5 per cent."
Of the province's three largest cities, Calgary saw the greatest movement in unemployment with the city's jobless rate dropping five-tenths of a percentage point to 5.8 per cent from 6.3 in July.
Calgary Economic Development noted that Calgary seems to be weathering the current economic slowdown experienced across the rest of Canada.
"Calgary continues to have the highest labour participation rate in Canada at 72 per cent. That said, this is down from 72.8 per cent a year ago in August 2022," said the organization in a Friday news release.
Edmonton's unemployment rate remained largely unchanged, climbing to 6.1 per cent from six per cent the month prior.
In Lethbridge, unemployment dipped slightly in August to 5.5 per cent from 5.7 in July.
The national unemployment rate was 5.5 per cent in August, ending a three-month streak of rising unemployment.
Canada's labour market added 40,000 jobs last month.
Statistics Canada said the country's strong population growth means higher monthly job gains are needed to keep the unemployment rate steady.
The August 2023 labour force survey examined the week of Aug. 13 to 19.
