Wood Buffalo-Cold Lake Unemployment Rate Drops to Three Year Low

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Wood Buffalo-Cold Lake Unemployment Rate Drops to Three Year Low

The unemployment rate for our region has dropped to a three-year low.

According to Statistics Canada, it now sits at six per cent for Wood Buffalo-Cold Lake in February – the lowest its been since January 2015 when it was 5.4 percent.

As for our labour force, the region lost 400 full-time positions from January to February but added 200 part-time jobs. This is the third straight month that there was a decrease in full-time workers, after a decline of 500 jobs from December to January.

The Forestry, fishing, mining, quarrying, and oil and gas sector added 400 spots month over month – with construction gaining 100 in the same time period.

Nationally, the unemployment rate declined by 0.1 to 5.8 per cent.
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