The unemployment rate in Red Deer jumped in January.
Numbers by Statistics Canada show the unemployment rate in the Red Deer region in January sat at 7.4 per cent, up 0.8 per cent from December’s 6.6 per cent.
Rick More, Red Deer & District Chamber of Commerce CEO, said it’s “very disheartening” to see the city’s latest unemployment rate.
“You don’t have to drive very far to see the large number of for-lease signs in the city,” he added.
Energy and agriculture are the two main drivers for central Alberta’s economy, and even if one gets hit, we all suffer, explained More.
That has a trickle down effect on consumer spending, and in turn, shatters business and investor confidence.
But the movement in the Trans Mountain pipeline expansion is welcome news. Recently, three judges on the Federal Court of Appeal unanimously dismissed four challenges by First Nations in B.C. against twinning of the existing pipeline.
“You can see some capital investments happening now, probably more than we’ve seen in five years. Those are very positive signs, and again, it’s a big win we need.
“And trust me, there’s people waiting with investment money to have confidence in Alberta again.”
Alberta’s unemployment rate also rose in January to 7.3 per cent from December’s 7.0 per cent.
The same is true for Edmonton, where the unemployment rate was up to 8.2 per cent in January from December’s number of around 8.1. The city’s unemployment rate is second highest in the metropolitan areas of the country, behind Windsor, Ont., at 8.3 per cent. It is the highest in Alberta.
Calgary’s number also rose by 0.1 per cent in the first month of the new year from December, up to 7.2 per cent.
More encourages supporting local businesses – both big and small.
“Spend it here. These online (shopping) things that are coming in, they don’t pay the taxes in our city, they don’t employ people in our city. They don’t support our hockey teams and baseball teams, that our business people do,” he said.
One reason consumers shop online is convenience.
“It’s easy, especially in tough times, to save money, with whatever you do, but you always have to consider what harm it can do in the long run, and even for the future of our kids – they have to know the importance of local spending.”
The Lethbridge-Medicine Hat unemployment rate in January was at 4.5 per cebt, the lowest in the province, and the Camrose-Drumheller region was at 5.1. Those numbers in December were four per cent and 4.2 per cent, respectively.
With files from The Canadian Press