Local unemployment drops below 10% –
The unemployment rate in southeast and southwest parts of the province has fallen below 10 per cent in March, according to new figures from Statistics Canada.
The jobless rate in Medicine Hat-Lethbridge economic region sat at 9.5 per cent during the month, down more than one and a half percentage points from the previous month.
That is well above the rate in March 2020, which sat at 5.3 per cent, prior to major effects of a pandemic on the economy. The unemployment rate in the region hit its highest point in January 2021 at 11.4 per cent.
Across the province, 37,100 new jobs (including 11,900 full-time positions) pushed the average down as 18,400 people entered the workforce.
The result was a near onepoint drop in the provincewide rate to 9.1 per cent seasonally adjusted.
Unadjusted figures remained high however, in Edmonton (11.3 per cent), Calgary (10.4), Red Deer (10.2), and Banff-Grande Prairie (10.0).
Year-over-year, most new jobs in Alberta were added to the educational services sector, professional services and resource extraction.
In southwest Saskatchewan last month unemployment rose to 6.8 per cent in March, from 6.5 per cent in February.
The high-point for joblessness there over the past year was 10.5 per cent in June.
National rate falls
In all, Statistics Canada said the economy added 303,000 jobs in March as restrictions rolled back, paving the way for more workers to return to high-touch sectors hardest hit by public health restrictions.
The March increase puts overall employment 296,000 shy of the pre-COVID level in February 2020, a gap of 1.5 per cent. The unemployment rate was 7.5 per cent, down from 8.2 per cent in February, hauling the rate to a pandemic-era low.
Retail gained 95,000 jobs to fully recoup losses sustained in January lockdowns, while employment jumped 21,000 in the accommodation and food services sector. Notable gains were also seen in health care, construction and educational services.
Statistics Canada said the number of people unemployed across Canada, despite sharp reductions over February and March stood at 1.5 million.
However, the momentum won’t carry into April as restrictions tighten, just as has happened throughout the pandemic, said Brendon Bernard, an economist with job-posting site Indeed.
“It’s going to continue as long as the pandemic is with us,” he said.
“It all goes back to the vaccine — getting the crisis under control. That’s what it takes for this recovery to really be on track firmly and not fall off the rails.”