Alberta unemployment rate steady at 5.7%
Unemployment rate for Calgary in June was 5.9% — highest in 4 years
New job numbers from Statistics Canada show that Alberta's unemployment rate is holding steady, despite the slump in oil prices.
The province's unemployment rate was 5.7 per cent in June, down a bit from last month.
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While the unemployment numbers appear to show resiliency in Alberta's job market, some economists say they don't tell the whole story.
Todd Hirsch, chief economist with ATB Financial, notes that the province is seeing more lower-paying service sector jobs, while thousands of higher-paying jobs in the oil and gas industry are being cut.
The unemployment rate for Calgary in June was 5.9 per cent, the highest it's been in four years.
But Statistics Canada warns the number is based on a small survey of people.
Alberta has the third lowest unemployment rate in the country after Manitoba and Saskatchewan.
A recent report by ATB Financial predicted the province's GDP will grow by 0.4 per cent in 2015, the weakest in six years.
Nationally, the jobless rate stayed steady at 6.8 per cent, the same level it has been since February.