Alberta continues to set the pace for job creation in Canada, solidifying its position as the country’s economic engine.
The province led the way in job growth between Sept. and Oct. 2024, accounting for over 91% of the country’s net job growth according to the latest labour force data.
Meanwhile, the entire country saw employment grow by only 14,500, from 20,582,400 in Sept. to 20,596,900 in Oct.
Alberta accounted for the vast majority of this growth, rising from 2,529,800 jobs in Sept. to 2,543,000 jobs in Oct., or 91% of the country’s net growth.
“Our business-friendly policies are driving innovation, boosting private sector growth, and increasing weekly earnings to $1,391,” said Alberta Premier Danielle Smith. “Alberta’s labour force is punching above its weight, showing why our province remains the best place to live, work, and invest.”
However, some other provinces saw notable growth as well. For example, British Columbia saw employment rise by 8,300, followed by Quebec, which saw a growth of 6,500.
Canada’s most populous province, Ontario, lost 10,900 jobs between Sept. and Oct. While Ontario’s employment fell, its population rose by 39,300 over the same period. The population data provided by Statistics Canada only accounts for people of working age, 15 years or older.
The entire country saw its working-age population rise by 85,200 people between Sept. and Oct. 2024. Therefore, while the country saw an increase of 14,500 jobs, it saw 70,700 more working-age individuals enter the job market than the number of jobs created. The working population grew at 587.5% of the job growth rate between Sept. and Oct. 2024.
Alberta has previously led the country in gains from interprovincial migration, as Canadians are fleeing expensive cities for greater affordability. The trend of interprovincial migration driven by affordability has seen rent decrease in Canada’s most expensive provinces, while it has increased in the most affordable.
While Alberta’s population grew, it fared much better than the rest of the country. Between Sept. and Oct. 2024, Alberta’s population grew by 14,400. The province’s employment grew by 13,200. Therefore, only 1,200 more working-class people entered the job force than did jobs, or a rate of 109%.
A recent study from the Fraser Institute highlighted that Canada’s employment growth is due primarily to increased jobs in the public sector. Between 2019 and 2023, 46.7% of jobs created were in the public sector. While public-sector employment grew by 13%, private-sector jobs saw an increase of only 3.6%.
However, according to Statistics Canada, public sector employment remained “virtually unchanged in Oct.”
Canada’s unemployment fell in Oct. — the first decrease since Jan.
Average hourly wages grew 4.9% to $35.76 an hour year-over-year in Oct., rising further from the 4.6% annual increase seen in Sept.
Despite the rise in wages, only 61.3% of Canadians reported being very satisfied with their job, a decrease of 0.9% since Oct. 2023. The younger people were, the more likely they were to be dissatisfied.