Wood Buffalo – Cold Lake Unemployment Rate Drops To Lowest Level In Nearly Two Years

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Wood Buffalo – Cold Lake Unemployment Rate Drops To Lowest Level In Nearly Two Years

The unemployment rate for our region is the lowest its been in almost two years.

According to Statistics Canada, the unemployment rate now sits at 7.3 per cent for the month September, matching the low of October 2015.

The employment rate is also the highest its been since October 2015, sitting at 72.3 per cent for September.

The Labor Force Survey released Friday shows the region added 200 full-time jobs last month, with part-time remaining unchanged.

September was the first time in months there was no growth in the construction sector. August and September recorded 9800 people working in the field, the highest since October 2016. Many sectors in our region saw increases month over month, with business, building and other support services and services-producing recording the biggest gains of 300 positions.

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

Nationally, the unemployment rate remained at 6.2 per cent, matching the low of October 2008.
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