Alberta agents may continue to struggle
“Employment in Alberta decreased by 10,000 in January. This brought year-over-year declines to 35,000 (-1.5%), as losses in full-time work (-73,000) were partly offset by gains in part time (+38,000),” Statistics Canada said in its jobs release. “The employment decrease in January raised the unemployment rate in the province to 7.4%, the highest since February 1996.
“The unemployment rate in Alberta was higher than the national rate for the first time since December 1988.”
The opposite holds true in Ontario
“For a second month in a row, Ontario was the lone province with employment growth, up 20,000 in January,” StasCan said. “However, the unemployment rate was unchanged at 6.7% as more people participated in the labour market. In the 12 months to January, employment in the province increased by 100,000 (+1.5%).”
Employment remains relatively unchanged
“In the 12 months to January, employment increased by 0.7% (+126,000). Over the same period, the unemployment rate rose from 6.6% to 7.2%, as the labour force grew at a faster pace than employment,” StatsCan said. “There was little change in both full-time and part-time employment in January.
“However, compared with 12 months earlier, full-time work increased by 172,000 (+1.2%) while part time was little changed. Over the same period, the number of hours worked rose by 1.2%.”
Employment rates are a good indicator of potential housing activity, and this month’s data reveals a great of information for players across the country.