“Today’s job numbers reflect that despite COVID-19’s impact, Alberta’s economy continues to push forward. The gains made last month indicate Alberta has recovered all the jobs that were lost since the pandemic began. Once again, Alberta leads the country with an employment rate of 64.5 per cent and a declining unemployment rate.
“Alberta is one of only five provinces to see such growth and one of only four provinces to see a drop in its unemployment rate. This news comes as 200,000 jobs were lost nationally, with the national unemployment rate increasing.
“The data released today follows a strong year for Alberta that saw nearly 130,000 new jobs created and our unemployment rate drop to its lowest since before the pandemic began. While modest, January’s numbers show a continuation of those trends. Year over year, Alberta’s unemployment rate has gone from 10.8 per cent in January of last year to 7.2 per cent last month.
“Last year, we saw several record-breaking investments in our province and we are looking forward to even more investment in 2022. The most recent reports show increases in retail sales, restaurant sales, wholesale trade and oil production. Importantly, the province saw building permits increase by 30 per cent over the past year. As we have been saying, Alberta is coming back.
“Job numbers fluctuate month to month but, as demonstrated over the past number of months, Alberta’s economic recovery has momentum. I am confident we will continue to see growth in our province as word spreads that Alberta is a business and entrepreneur-friendly jurisdiction with a high quality of life and low cost of living.”