Alberta Jobs Rebound, but Headwinds Remain

Alberta’s labour market regained ground in April, adding 15,000 jobs, driven entirely by private sector and full-time employment. Construction (+2,000) and manufacturing (+5,600) led goods-producing sectors, even as oil and gas employment dropped (-6,100). Services grew broadly, particularly in health care, finance, and public administration.

In Calgary, employment rose 4.8% year-over-year, but the unemployment rate remains elevated at 7.6%. Participation edged up to 68.5% province-wide, recovering from a three-month slide, yet average hourly wages fell 0.9% month-over-month due to fewer Albertans working overtime during a short holiday week.

For commercial real estate, the data points to resilience in construction, logistics, and healthcare-driven demand, but ongoing volatility in energy and slower wage growth could temper retail and office recovery. With long-term unemployment rising and job vacancies slipping, cautious optimism is warranted.

Reference: Alberta Labour Market Notes, Government of Alberta, May 9, 2025.

Connect with ClearView: Want to unpack how Alberta’s labour trends impact leasing, development or tenant risk? Contact us at info@cvpartners.ca.

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