Calgary’s Labor Market Improves: January 2012

Calgary’s unemployment rate was 4.9% in January 2012 according to the City of Calgary’s latest Labor Market Review.  This is an improvement from the 5.9% recorded a year earlier, but slightly higher than Edmonton’s 4.7% and Alberta’s overall 4.8%.

Other report highlights:

  • Alberta  job gains in full-time positions (+21,900) were mostly offset by losses in part-time (-19,900).
  • Alberta’s 4.9% unemployment rate stayed the lowest, compared to the national average of 7.6%
  • Total employment increased by 5,600 in the Calgary Economic Region (CER), 1,900 in Alberta and 2,300 in Canada.

Worker Shortage Looming

The report states that while Calgary’s population has been increasing, it has also been aging with the pace expected to increase in the next 10 years.

The chart below shows how the working age population of youth (age 15-24) and core-age worker (25-54) has shrunk over the past 20 years while the pre-retirement and retirement segment is increasing- and that trend is expected to continue in the decade to come.

“This combined with the region’s low unemployment rate emphasises the need for local employers to plan more urgently for a potential labour shortage in the near future.”

Source: City of Calgary Labor Market Review, January 2012. (click to enlarge image)

A link to the report will be added shortly.

Also, a stat from the City of Calgary’s most recent Economic Analysis: Dec 2011.

  • In December 2011, the average hourly wage in Calgary was $27.37, an increase of 4.3% compared to a year ago. In Alberta, the average hourly wage was $26.03, an increase of 2.6% y/y.

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