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Wood Buffalo – Cold Lake Employment Rate Reaches Highest Level Since November 2015

Fort McMurray, AB, Canada / MIX 103.7
Wood Buffalo – Cold Lake Employment Rate Reaches Highest Level Since November 2015

The employment rate for Wood Buffalo – Cold Lake is the highest it’s been in 21 months.

According to Statistics Canada, the employment rate has been rising since March and now sits at 72 per cent for the month of August. The last time it was this high was back in November 2015 when the employment rate was 72.1 per cent.

The latest Labor Force Survey released Friday shows the region added 200 jobs month over month, gaining 300 part-time positions but losing roughly 100 full-time jobs.

As the rebuild continues, the construction sector grew for a fifth straight month with 200 positions being added in August. While natural resources, which includes industries such as forestry, mining, and oil and gas operations, fell by 200 month over month.

The unemployment rate in August was 7.7 per cent, increasing slightly from a 22-month low set in July.

Due to the wildfire last spring, stats for year-over-year aren’t available.

Provincially, employment held steady in August and the unemployment rate edged up to 8.1 per cent, as more people searched for work.

The unemployment rate in Canada declined by 0.1 percentage points to 6.2 per cent in Canada, matching the most recent low of October 2008, the month prior to the 2008-2009 labour-market downturn.

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