Wood Buffalo-Cold Lake Unemployment Rate Up Month Over Month

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Wood Buffalo-Cold Lake Unemployment Rate Up Month Over Month

After hitting a nearly three-year low in December, the unemployment rate for our region is up month over month.

According to Statistics Canada, the rate for Wood Buffalo-Cold Lake sits at 6.3 per cent for January, up slightly from December’s rate of 6.2 per cent, which was the lowest it had been since January 2015.

As for our labour force, the region lost 500 full-time positions from December to January but added 100 part-time jobs.

Only five sectors saw gains month over month. Construction lost 100 workers, with forestry, fishing, mining, quarrying, oil and gas sectors losing roughly 200 jobs.

Overall employment in Alberta there was little change in January, as large part-time declines were mostly offset by full-time increases.

Nationally, the unemployment rate increased by 0.1 percentage points to 5.9 per cent.
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