A message from Rob Roach at ATB Economics:
There were about 70,000 more jobs in Alberta in November 2024 than in November 2023 for an overall increase of 2.8%. Services-producing jobs were responsible for all of the net growth with the number of goods-producing jobs basically flat.
The largest increase since November 2023 in both absolute and percentage terms occurred in the finance, insurance, real estate, rental and leasing sector, which added 12,500 jobs for a year-over-year growth rate of 9.8%.
Up by 12,000 (8.0%), the next largest absolute year-over-year increase was in manufacturing, which was the only goods-producing industry to post year-over-year growth in November. Health care and social assistance added the third highest number of jobs at 11,800 (3.6%).
Primary agriculture (food processing jobs are included in manufacturing) saw the largest decrease in employment, down 7,400 (17.4%) compared to November 2023. Employment in primary agriculture has not recovered from the erosion that happened during the pandemic with the number of jobs in the sector down by 24,500 versus February 2020 (the month before the pandemic was declared). Only two other sectors are still below their February 2020 level: accommodation and food services (3,500) and utilities (1,200).
Learn more in this edition of The Twenty-Four.
For more number-crunching on Alberta's economy, visit The Twenty-Four Seven by ATB.