EDMONTON - Alberta created 13,700 new jobs in February and was the only province to post a notable employment gain.
Statistics Canada said Friday Alberta’s unemployment rate dropped to 5.7 per cent from 5.9 per cent in January.
The job gains in February follow a January where 21,600 new jobs were created. That was the largest employment gain since 2006 in the province.
Compared to the same month last year, employment in Alberta is up by 68,300 jobs, or 3.4 per cent. Nationally, employment is up 1.9 per cent year-over-year.
In the Edmonton census metropolitan area, the unemployment rate held steady at 5.8 per cent in February.
The Calgary area saw its jobless rate rise to 6.3 per cent from 6.0 per cent in January.
A year ago, Alberta’s unemployment rate was 6.8 per cent. Edmonton’s was 6.9 per cent and Calgary’s was 7.1 per cent.
“Most of Alberta’s gains in February were concentrated in the manufacturing sector (12,700), a clear sign that oil refineries, manufacturers of equipment for oilsands extraction, and food processors are continuing to add more workers,” said ATB Financial senior economist Todd Hirsch.
With the new jobs created so far in 2011, Alberta has gained back 78 per cent of the 92,000 jobs lost in the recession, Hirsch said.
“A few more months of job growth similar to that posted so far this year, and Alberta will be back to record employment numbers.”
An Alberta government spokesman said the province is counting on more job gains throughout the year.
“It is encouraging to see our economy is creating jobs at such a strong pace and that fewer people are unemployed,” said Alberta Employment and Immigration spokesman Terry Jorden.
“This is a sign that Alberta’s labour market is gaining momentum and we expect this trend to continue in 2011.”
Alberta’s unemployment rate was second lowest in Canada, tied with Saskatchewan, and behind Manitoba at 5.3 per cent.
Nationally, the unemployment rate remained unchanged at 7.8 per cent. Employment went up in February by 15,100, bringing total gains over the past three years to 115,000.
An RBC Economics Provincial Outlook report released Friday also forecasts Alberta’s job market to heat up.
“We expect employment creation to gain traction in Alberta and this will be an important piece of the provincial growth puzzle that was missing last year,” said Craig Wright, senior vice-president and chief economist at RBC.
The report forecasts real GDP growth in the province of 4.3 per cent in 2011 and 3.8 per cent in 2012. That follows last year’s 3.3 per cent and a 4.5 per cent decline in 2009.
RBC said ramping up of capital investment in the oilsands industry will boost the provincial economy.
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