Labour Market Gains Tempered by Sectoral Strain

April 2025 data reveals a complex labour market picture in the Calgary Economic Region (CER). Employment rose 3.5% year-over-year, with 34,400 net new jobs, driven by full-time positions. Notably, construction (+10,000), health care (+14,500), and retail trade (+27,500) led job creation, while manufacturing (-6,000) and oil and gas continued to contract. Unemployment remains high at 7.8%, and participation has slipped to 69.1% as economic uncertainty weighs on hiring.

For Calgary’s commercial real estate stakeholders, this reflects a bifurcated economy: strength in consumer-facing and essential services, but softening in traditional industrial drivers. Developers and landlords may see near-term stability in health, education, and retail corridors—but persistent underperformance in manufacturing and energy may reshape leasing and development expectations in key submarkets.

Reference: Labour Market Review – Calgary Economic Region, April 2025, City of Calgary.

Connect with ClearView: Curious how labour trends affect tenant demand or investment strategy in Calgary? Contact us at info@cvpartners.ca — we’re here to help translate macro trends into real estate opportunity.

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