The Province of Alberta has released new economic indicators for June 2024, including a slight increase in unemployment for the Rocky Mountain House region.
The sweeping data region representing not only Rocky Mountain House, but also areas between Banff and the Northwest Territories border, saw an unemployment rate of 5.5 per cent at the end of May 2024- up slightly from 5.3 per cent from the month prior.
As previously reported, Town officials say, however, there have been some positive indicators within the town of Rocky Mountain House so far in 2024.
According to Statistics Canada and other Alberta government sources:
- Over 2.7 million people are employed in the province, a 4.2 per cent increase year over year
- The unemployment rate was up 1.3 per cent y/y to 7.1 per cent
- Average weekly earnings in Alberta rose three per cent to $1,328 in June, a 3.3 per cent increase y/y
- The province saw48,185 housing starts in May 2024, up 32 percent y/y
- There were just over 77,000 job vacancies in the province constituting a 3.6 per cent vacancy rate
- Alberta’s population was just over 4.8 million- a 4.4 per cent year over year change.
For energy, data shows there was growth in both renewable and non-renewable energy development
- May 2024 saw a 36.2 per cent y/y increase in clean electricity generation
- 760 new wells were drilled, a 7.5 per cent y/y increase
- 9.5 billion cubic meters of natural gas was produced, an 11.3 per cent y/y increase
The Province says the data comes from two weekly publications: Alberta Economy: Indicators at a Glance and the Weekly Economic Review.
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