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Alberta unemployment rate to surpass national average in 2016: RBC
Alberta’s unemployment rate is expected to average 6.9 per cent in 2016, exceeding the national average for the first time since 1988, RBC said Tuesday.
“Private-sector hiring has fallen sharply year-to-date in November 2015 with further weakness expected as firms continue to face cost pressures,” the bank said, noting total employment has fallen only slightly from a year ago due to public-sector hiring gains. “However, as the unsustainable pace of growth in this sector diminishes, overall employment declines are set to dominate in 2016.”
The bank said unemployment is expected to fall back to 5.7 per cent in 2017. It estimated the province’s unemployment rate will average 5.9 per cent this year, up from 4.7 per cent in 2014.
Statistics Canada’s latest figures peg Alberta’s unemployment rate at seven per cent for November, up from 4.4 per cent in November 2014.
Alberta unemployment rate to surpass national average in 2016: RBC | Calgary Herald
Alberta unemployment rate to surpass national average in 2016: RBC
Alberta’s unemployment rate is expected to average 6.9 per cent in 2016, exceeding the national average for the first time since 1988, RBC said Tuesday.
“Private-sector hiring has fallen sharply year-to-date in November 2015 with further weakness expected as firms continue to face cost pressures,” the bank said, noting total employment has fallen only slightly from a year ago due to public-sector hiring gains. “However, as the unsustainable pace of growth in this sector diminishes, overall employment declines are set to dominate in 2016.”
The bank said unemployment is expected to fall back to 5.7 per cent in 2017. It estimated the province’s unemployment rate will average 5.9 per cent this year, up from 4.7 per cent in 2014.
Statistics Canada’s latest figures peg Alberta’s unemployment rate at seven per cent for November, up from 4.4 per cent in November 2014.
Alberta unemployment rate to surpass national average in 2016: RBC | Calgary Herald