Unemployment decreased slightly to 4.9 per cent in a large statistical area that includes Rocky Mountain House. This was down from 5.1 per cent in September in the sprawling area, which not only includes Rocky Mountain House but also Banff, Jasper, Athabasca, Grande Prairie, and Peace River.

Meanwhile, the Red Deer region’s unemployment rate dropped to 6.6 per cent in October, compared with 7.6 per cent the previous month and 7.4 per cent in the same month last year.

Elsewhere in the province, Edmonton had a jobless rate of 7.9 per cent in October, while Calgary’s was 7.4 per cent. The unemployment rate was 6.8 per cent for Lethbridge-Medicine Hat last month and 6.7 per cent for Wood Buffalo-Cold Lake.

The lowest unemployment rate in the province was in the Camrose-Drumheller statistical area, at 4.3 per cent.

Alberta’s unemployment rate stood at 7.2 per cent last month, down from 7.4 per cent in September but still up from 5.5 per cent in October 2023.

On a broader scale, Alberta goods exports increased 1.2 per cent month-over-month (m/m) in September to $15.1 billion, up 2.9 per cent from a year ago.

Average weekly earnings rose 1.2 per cent m/m to $1,351 in August, marking a 4.8 per cent increase year-over-year (y/y).

However, Alberta housing starts fell 3.2 per cent m/m in September to 46,794 units, a decrease of 4.5 per cent from a year ago.

The national unemployment rate was 6.5 per cent last month, down from 6.8 per cent in September, but still higher than 5.6 per cent in October of last year.

Data is sourced from Alberta Economy: Indicators at a Glance, Statistics Canada, and the Weekly Economic Review.