There is a strong relationship between job indicators and the overall health of the economy. High levels of employment and low unemployment are associated with a strong economy, providing income and stimulating domestic demand and overall growth. In contrast, high levels of unemployment generally reduce consumer spending and lead to lower economic growth.
A variety of indicators are used to assess different aspects of the health of the labour market. Given its importance and due to how the data is often collected, labour market data is generally timelier than many other indicators.
Employment by industry
Employment data can be broken out by a number of characteristics, including employment categorized by the industry in which someone works. Alberta’s largest industries in terms of employment are: health care and social assistance, retail trade, professional, scientific and technical services, construction, manufacturing, and oil and gas extraction.
See more Alberta employment data here.
Alberta has highest earnings of the provinces
High average weekly earnings are an indication of a strong economy, but are also be influenced by the cost of living and other factors. Alberta has the highest average weekly earnings of the provinces, in part due to the high wages in the oil and gas extraction sector.
See more Alberta earnings data here.
Job vacancy rate by industry
The job vacancy rate is a measure of unmet labour demand and is the number of job vacancies expressed as a percentage of total labour demand. A high job vacancy rate can indicate that there is high demand for workers and a tight labor market, while a low job vacancy rate can indicate that there is less demand for workers. Additionally, a high job vacancy rate could indicate that companies are expanding, and the economy is growing.
See more Alberta job vacancy data here.