In February, Alberta’s unemployment rate dropped by 0.1 per cent to 6.3 per cent. That’s slightly better than the national average of 6.7 per cent. Employment is up by 85,000 jobs from this time last year. “Alberta is looking pretty good right now,” said Mark Parsons, ATB chief economist. “It’s really bucking the trend you’re seeing, you know, employment was flat last month, but to start the year, it’s been pretty strong, and the unemployment rate is falling below the national average.” That’s all despite a shakier economic outlook nationally. Ongoing tension and uncertainty around the world is having ripple effects closer to home. Some businesses will be hesitant to invest and expand for the time being. “Bad news for Canada,” said Parsons. “The national labour picture doesn’t look great right now. “We’re seeing the impacts of the ongoing trade war. It’s hitting provinces like Ontario (and) Quebec.” Locally, the unemployment picture is similar to the rest of Alberta. The Lethbridge-Medicine Hat region’s unemployment stayed flat at 6.9 per cent. Despite this, some industries have had difficulties hiring. “For southern Alberta, the story is slightly different,” said Peter Casurella, South Grow Regional Initiative executive director. “Many of our core industries, like agriculture, food processing and construction, they’re still facing labour shortages even today, and the bigger risk for our region is actually global demand.” While southern Alberta relies on exports, it’s not as exposed to international tensions as other regions. Most exports are agricultural, which is always in demand even in turbulent times. “The demand for our product is not going away,” Casurella said. “Trade impacts, trade disruptions (and) tariffs impact the price point that our producers are getting, and they change the day-to-day and year-to-year economics of their industry. “But they don’t cause demand to dry up and go away.”
