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Labour markets in Calgary and Edmonton not yet showing signs of recovery

Labour markets in Calgary and Edmonton not yet showing signs of recovery

November data out of Statistics Canada revealed another 3.4% m/m increase in the number of Albertans receiving regular Employment Insurance (EI) benefits, estimated at 96,900. Most of that rise was attributed to gains in the Calgary (+5.1% m/m) and Edmonton (+4.9% m/m) metropolitan areas. Outside of the two major cities, the number of new recipients was about unchanged for the month. 

Over a 12 month period, Alberta has seen a 57% increase in EI beneficiaries. November's EI figures are still below the July 2016 record of 103,000, which resulted from the Fort McMurray wildfires. As a point of comparison, the 2008/09 oil shock saw a peak of 70,000 EI recipients in July 2009. Prior to the oil price crash of 2014/15, about 30,000 Albertan normally collected EI.

Another 30,000 Albertans filed initial and renewal EI claims in November, down 3.3% from October but still up 30% from September. The relatively high number of new claims would suggest the number of recipients is not about to decline anytime soon.

Across Canada, a total of 574,500 people received regular EI benefits in November, approximately unchanged from October figures but up almost 5% from the same time last year. However, StatsCan attributes the 5% increase to changes made to the EI qualification rules last summer.

TREND IN EI BENEFICIARIES ACROSS CANADA
SOURCE: STATISTICS CANADA
Crude-by-rail volumes continue to be sluggish at CP Rail

Crude-by-rail volumes continue to be sluggish at CP Rail

Federal Liberals kicks off NEB "modernization"

Federal Liberals kicks off NEB "modernization"

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