Alberta Job Boom Driven by Healthcare, Not Oil
Alberta, Canada's job market is experiencing a significant surge in hiring, but surprisingly, it's not driven by the oil and gas industry. According to RBC Economics, Alberta saw a 3% increase in jobs in June, with a total of about 79,000 more positions added compared to the same period last year.
The largest job gains were in healthcare and social assistance, which increased by 55,000 jobs. Public administration also saw growth as the province tries to keep up with its rapidly expanding population, estimated to be over 570,000 people between the second quarter of 2022 and this year's second quarter.
The rise in population has put a strain on public services, leading to increased demand for clinics, hospitals, schools, and other services. This, in turn, has led to hiring by government budgets and publicly funded employers.
RBC notes that while oil and natural gas production remains strong, energy employment has barely moved. This is attributed to productivity gains through automation and more efficient operations, allowing producers to pump more without adding many workers.