Red Deer's unemployment rate experienced a slight jump to close out 2024.
The region's unemployment rate, unadjusted for seasonality, was 7.6 per cent in December 2024, according to data released by Statistics Canada on Friday, Jan. 10. This marked a 0.7 percentage point increase compared to the month prior and a 0.3 percentage point decrease from December 2023.
The labour force decreased by 1,800 from November to December. Total employment also dropped by 2,900 during the same time period — full-time employment rose by about 300, while part-time employment dropped by more than 3,000.
The Red Deer region had the highest unemployment rate in Alberta in December 2024. The unemployment rate was 7.2 per cent in Calgary, 6.8 per cent in Edmonton, 5.9 per cent in Wood Buffalo-Cold Lake, 5.4 per cent in Lethbridge-Medicine Hat, 5.1 per cent in Camrose-Drumheller and 3.7 per cent in Banff-Jasper-Rocky Mountain House and Athabasca-Peace River. Lethbridge-Medicine Hat was the only region with a lower participation rate than Red Deer.
Alberta’s seasonally adjusted unemployment rate was 6.7 per cent in December 2024, down 0.8 percentage points from the previous month and up 0.4 percentage points from the same month last year.
Alberta's unemployment rate was the fifth highest in Canada. The national unemployment rate at 6.7 per cent was 0.1 percentage points lower than the previous month.
The province's labour force increased by 14,200 to 2,790,200 last month. The number of labour force participants increased among 15 to 24 year olds (+13,000) and people aged 55 years and over (+1,300) and was unchanged for 25 to 54 year olds. Month-over-month, employment increased by 35,200. Employment grew for 15 to 24 year olds, 25 to 54 year olds and people aged 55 years and over.
In December 2024, employment rose in 11 out of 16 industries compared to the previous month. The industries with the most employment gains were: construction; accommodation and food services; and other services. On a year-over-year basis, employment increased the most in: health occupations; trades, transport and equipment operators and related occupations; and natural and applied sciences and related occupations.
