Alberta’s unemployment rate, especially for young men has rapidly shot up since April.
According to Statistics Canada, over the last few months, the province has seen the rate of unemployment for young men shoot up from one in ten to one in five. Meaning that roughly 20% of Alberta young men have become jobless, outside of a recession. The gender split between men and women for job loss has largely been due to the drop in the oil and gas sector, an area commonly dominated by men.
This high level of youth unemployment has not been seen in the province since the early 1980s.
While the oil drop is important, the rate could get far worse for both genders.
A recent study by Statistics Canada revealed that Alberta has lost 18,000 jobs in November alone. The decline in jobs was across numerous industries but was affected most in wholesale and retail trade, according to the Labour Force Survey.
While Statistics Canada does warn against looking at monthly rate changes, the consistent change since April makes this matter extremely important, and potentially long-term.