Alberta unemployment rate rises to 7.1 per cent

 

 

Statcan reports that Alberta has the highest increase in Canada's unemployment rate. The unemployment rate is 7.1%. The province lost 15,000 jobs in March. This brings the unemployment rate to 7.1 per cent, up 0.4 percentage points from February. Canada's unemployment rate rose to 6.7 per cent in March from 6.6 per cent in February.

Alberta has the fourth highest unemployment rate in the country. The largest job losses in Alberta were in the manufacturing sector, which lost 11,000 jobs. Wholesale and retail trade fell by 9,200 compared to February. Meanwhile, the 33,000 Canadian jobs lost in March, the largest decline since January 2022, Statcan reports.
The impact of the tariffs imposed by the current US administration is deterring business owners from investing, said Stacey Wanchuk-Oleksi, CEO of Money Mentors. StatCan says more Canadians are likely to remain unemployed for longer, making the situation even more difficult for those who are long-term unemployed.