Red Deer’s unemployment rate remained steady last month.
In February, the City of Red Deer’s unemployment rate (unadjusted by seasonality) was 7.7 per cent, which is the same as the month prior, according to the latest Statistics Canada Labour Force Survey.
Both the labour force and total employment saw minor rises during the second month of 2023. Full-time employment in the region decreased by 400, while part-time employment rose by 800.
The region’s unemployment rate in February 2022 was 7.3 per cent, but the labour force was smaller by 5,700 people.
Provincially, Alberta’s seasonally adjusted unemployment rate was 5.8 per cent in February 2023, which is 0.2 percentage points down from January 2023 and 0.6 percentage points down from February 2022, according to the Alberta Labour Force survey released Friday.
This rate was the seventh-lowest in Canada after Quebec’s 4.1 per cent, Saskatchewan’s 4.3 per cent, Manitoba’s 4.7 per cent, Ontario’s 5.1 per cent, British Columbia’s 5.1 per cent and Nova Scotia’s 5.7 per cent. The national rate, at five per cent, was unchanged from the previous month.
The labour force decreased by 3,400, while provincial employment increased by 1,600 compared to the previous month. Full-time employment increased by 10,900, offsetting the decline of 9,300 in part-time employment over the same period of time.
Between February 2022 and February 2023, employment increased by 76,900 and the number of unemployed Albertans decreased by 10,600.
Month-over-month, employment decreased by 9,000 in the private sector, but gains were recorded among self-employed workers (+8,700) and in the public sector (+1,900). On a year-over-year basis, private sector employment grew by 70,500 and public sector employment increased by 3,600.
In February 2023, employment rose in eight industries compared to the previous month and the industries that had the most employment gains were transportation and warehousing (+8,100), manufacturing (+7,500), healthcare and social assistance (+6,300), forestry, fishing, mining, quarrying, oil and gas (+4,700), and information, culture and recreation (+3,800).
“Employment in the province is expected to grow at a solid pace this year,” said Brian Jean, minister of Jobs, Economy and Northern Development.
“Building off strong job growth in January, almost 11,000 more Albertans had full-time jobs in February. With nearly two million people employed full time, more Albertans have full-time jobs today than at any point in Alberta’s history.
“Alberta is already leading by example when it comes to economic growth and diversification, and continues to drive more investment, more job creation, more population growth and more opportunities for Albertans. February’s numbers, paired with Budget 2023, are further proof that Alberta is open for business.”
sean.mcintosh@reddeeradvocate.com
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