The city of Calgary, located in the province of Alberta, Canada, has experienced fluctuations in its unemployment rate over the years. As of the latest available data, the Calgary unemployment rate stands at 7.5%, which is slightly higher than the national average. This statistic is based on the most recent labor market survey conducted by Statistics Canada, which provides a comprehensive overview of the country's job market.
Calgary Labor Market Overview
The labor market in Calgary is diverse, with major industries such as energy, finance, and technology driving the local economy. However, the city’s unemployment rate has been impacted by various factors, including the COVID-19 pandemic, fluctuations in global oil prices, and shifts in the energy sector. According to Statistics Canada, the unemployment rate in Calgary has been trending downward over the past year, with a notable decrease in the number of unemployed individuals.
Industry Breakdown
A closer look at the industry breakdown reveals that the energy sector, which has historically been a significant contributor to Calgary’s economy, has experienced a decline in employment rates. In contrast, the technology sector has shown promising growth, with an increasing number of startups and established companies setting up operations in the city. The following table provides a snapshot of the employment rates in various industries in Calgary:
| Industry | Employment Rate |
|---|---|
| Energy | 65.2% |
| Finance | 72.1% |
| Technology | 85.6% |
| Health Care | 81.4% |
Demographic Analysis
A demographic analysis of the Calgary labor market reveals that certain age groups and demographics are more likely to be affected by unemployment. According to Statistics Canada, the youth unemployment rate (ages 15-24) in Calgary stands at 14.1%, which is significantly higher than the national average. In contrast, the unemployment rate for individuals aged 25-54 is 6.3%, which is closer to the national average.
Education and Skills
The level of education and skills also plays a significant role in determining employment rates in Calgary. Individuals with a post-secondary education are more likely to be employed, with an employment rate of 82.1%. In contrast, those with only a high school diploma have an employment rate of 64.2%. The following list highlights the employment rates for different levels of education:
- Post-secondary education: 82.1%
- High school diploma: 64.2%
- Some post-secondary education: 73.4%
- Trade certificate or diploma: 78.5%
Future Implications
The future implications of the Calgary unemployment rate are closely tied to the city’s economic growth and diversification. As the energy sector continues to evolve, the city is likely to experience a shift towards more sustainable and diversified industries. According to economic forecasts, the Calgary economy is expected to grow at a rate of 2.5% over the next year, with a notable increase in employment rates in the technology and healthcare sectors.
What is the current unemployment rate in Calgary?
+The current unemployment rate in Calgary stands at 7.5%, which is slightly higher than the national average.
Which industries are driving the Calgary economy?
+The major industries driving the Calgary economy include energy, finance, technology, and healthcare.
What is the expected growth rate of the Calgary economy over the next year?
+The Calgary economy is expected to grow at a rate of 2.5% over the next year, with a notable increase in employment rates in the technology and healthcare sectors.
