Wood Buffalo-Cold Lake Economic Region Workforce Insights

Key Insights

  • Employment increased by 700 jobs from the previous month and decreased by 1,500 jobs compared to the same month last year.
  • Full-time Employment decreased by 100 jobs from the previous month and decreased by 3,000 jobs year-over-year.
  • Part-time Employment increased by 800 jobs from the previous month and increased by 1,500 jobs year-over-year.
  • Unemployment decreased by 300 people from the previous month and increased by 400 compared to the same month last year.

Workforce Composition by Status

In the most recent month, Full-time Employment decreased by 100 jobs from last month and decreased by 3,000 jobs compared to the same month last year.

Part-time Employment increased by 800 jobs from last month and increased by 1,500 jobs year-over-year.

The number of Unemployed individuals decreased by 300 from the previous month and increased by 400 compared to last year.

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Employment, Unemployment, and Participation Rate

The Employment Rate decreased by 2.4 percentage points year-over-year.

The Unemployment Rate increased by 0.6 percentage points from a year ago.

The Participation Rate decreased by 2.1 percentage points year-over-year.

Jobs Added or Lost by Month

Employment levels increased by 700 jobs in the most recent month and decreased by 1,500 jobs compared to the same month last year.

In the most recent month, there was a net increased by 700 jobs. Over the last year, the labor market has seen a net decreased by 1,500 jobs in total.

Top 3 Industries in Goods Sector

  • Forestry, fishing, mining, quarrying, oil and gas : 18,100 workers.
  • Construction : 7,900 workers.
  • Agriculture : 1,600 workers.

The Goods sector is mainly driven by industries such as Construction, Manufacturing, and Agriculture, which together account for a substantial share of the workforce.

Top 3 Industries in Services Sector

  • Wholesale and retail trade : 9,400 workers.
  • Health care and social assistance : 8,000 workers.
  • Educational services : 4,800 workers.

In the Services sector, Health Care, Retail, and Professional Services lead employment, representing a dominant portion of the workforce.

Top 5 Industries by Change from Previous Month

  • Forestry, fishing, mining, quarrying, oil and gas : Change of 700 workers ( increased by 4.02 %).
  • Accommodation and food services : Change of 500 workers ( increased by 14.29 %).
  • Other services (except public administration) : Change of 500 workers ( decreased by 15.15 %).
  • Health care and social assistance : Change of 400 workers ( increased by 5.26 %).
  • Agriculture : Change of 300 workers ( decreased by 15.79 %).
  • Construction : Change of 300 workers ( decreased by 3.66 %).
  • Information, culture and recreation : Change of 300 workers ( decreased by 14.29 %).

These industries saw the largest month-over-month changes, indicating short-term trends.

Top 5 Industries by Change from Same Month Last Year

  • Information, culture and recreation : Change of 1,800 workers ( increased by Inf %).
  • Finance, insurance, real estate, rental and leasing : Change of 1,500 workers ( increased by 88.24 %).
  • Educational services : Change of 1,200 workers ( decreased by 20 %).
  • Forestry, fishing, mining, quarrying, oil and gas : Change of 1,100 workers ( decreased by 5.73 %).
  • Accommodation and food services : Change of 1,100 workers ( increased by 37.93 %).

The year-over-year changes provide insights into longer-term shifts, highlighting industries that have grown or declined significantly.

Conclusion

Employment has seen a decline over the year, highlighting some challenges in the job market. Key industries driving the trend are: Forestry, fishing, mining, quarrying, oil and gas, Construction, Wholesale and retail trade, Educational services, Health care and social assistance.

Local Workforce Insights

Key Local Labour Market Insights

  • Total local employment reached 11,950 in December 2024, it declined by 280 jobs from November and decreased by 910 jobs year-over-year.
  • The local employment rate reached 58.3%. It contracted of 1.4 percentage points from November and fell by 4.8 percentage points from same month last year.
  • Local unemployment rate stands at 7.4%. It declined by 0.0 percentage points month-over-month, and grew by 0.7 percentage points year-over-year.

Employment Trends

Total employment in December 2024 was 11,950, showing a considerable decrease of 280. against December, employment levels declined by 910, showing strain.

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Employment Rate Dynamics

The employment rate reached 58.3% in December 2024. This represents a decline of 1.4 percentage points from November (59.7%). Year-over-year, the rate decreased by 4.8 percentage points from 63.1%.

Unemployment Rate Trends

The unemployment rate was 7.4% in December 2024, down 0.0 percentage points from November. Compared to December last year (6.7%), the rate has increased by 0.7 percentage points.

Employment: Regional vs Local Patterns

The moderate correlation (0.67) between regional and local employment levels indicates some alignment in employment trends. This suggests that local employment partially reflects regional patterns.

Employment Rate: Regional vs Local Patterns

Employment rates show a strong correlation (0.71) between regional and local levels. This indicates strong alignment in workforce participation, suggesting that labor market conditions affect both areas similarly.

Unemployment Rate: Regional vs Local Patterns

The unemployment rate correlation of 0.14 shows a weak relationship. This points to distinct local unemployment dynamics, indicating that local unemployment follows its own distinct pattern.

Lac la Biche County consists of the following communities: Smoky Lake County, Vilna, Waskatenau, Smoky Lake, Lac la Biche County, Improvement District No. 349, Beaver Lake 131, Heart Lake 167, Athabasca County, Mewatha Beach, Boyle, Sunset Beach, Athabasca, Island Lake, Island Lake South, Bondiss, South Baptiste, West Baptiste, Whispering Hills .

Monthly Local Workforce Trends

Updated monthly, local monthly workforce trends focus on total employment, and employment unemployment rates estimates at "small-area" level.

Lac la Biche County consists of the following communities: Smoky Lake County, Vilna, Waskatenau, Smoky Lake, Lac la Biche County, Improvement District No. 349, Beaver Lake 131, Heart Lake 167, Athabasca County, Mewatha Beach, Boyle, Sunset Beach, Athabasca, Island Lake, Island Lake South, Bondiss, South Baptiste, West Baptiste, Whispering Hills .

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Local area

Employment Trends

Total employment in December 2024 was 11,950, showing a considerable decrease of 280. against December, employment levels declined by 910, showing strain.

Local area

Employment Rate Dynamics

The employment rate reached 58.3% in December 2024. This represents a decline of 1.4 percentage points from November (59.7%). Year-over-year, the rate decreased by 4.8 percentage points from 63.1%.

Unemployment Rate Trends

The unemployment rate was 7.4% in December 2024, down 0.0 percentage points from November. Compared to December last year (6.7%), the rate has increased by 0.7 percentage points.

Local area

Employment Rate: Regional vs Local Patterns

Employment rates show a strong correlation (0.71) between regional and local levels. This indicates strong alignment in workforce participation, suggesting that labor market conditions affect both areas similarly.

Local area

Unemployment Rate: Regional vs Local Patterns

The unemployment rate correlation of 0.14 shows a weak relationship. This points to distinct local unemployment dynamics, indicating that local unemployment follows its own distinct pattern.

Economic region

Workforce Composition by Status

In the most recent month, Full-time Employment decreased by 100 jobs from last month and decreased by 3,000 jobs compared to the same month last year.

Part-time Employment increased by 800 jobs from last month and increased by 1,500 jobs year-over-year.

The number of Unemployed individuals decreased by 300 from the previous month and increased by 400 compared to last year.

Economic region

Employment, Unemployment, and Participation Rate

The Employment Rate decreased by 2.4 percentage points year-over-year.

The Unemployment Rate increased by 0.6 percentage points from a year ago.

The Participation Rate decreased by 2.1 percentage points year-over-year.

Economic region

Jobs Added or Lost by Month

Employment levels increased by 700 jobs in the most recent month and decreased by 1,500 jobs compared to the same month last year.

In the most recent month, there was a net increased by 700 jobs. Over the last year, the labor market has seen a net decreased by 1,500 jobs in total.

Economic region

Top 3 Industries in Goods Sector

  • Forestry, fishing, mining, quarrying, oil and gas : 18,100 workers.
  • Construction : 7,900 workers.
  • Agriculture : 1,600 workers.

The Goods sector is mainly driven by industries such as Construction, Manufacturing, and Agriculture, which together account for a substantial share of the workforce.

Top 3 Industries in Services Sector

  • Wholesale and retail trade : 9,400 workers.
  • Health care and social assistance : 8,000 workers.
  • Educational services : 4,800 workers.

In the Services sector, Health Care, Retail, and Professional Services lead employment, representing a dominant portion of the workforce.

Economic region

Top 5 Industries by Change from Previous Month

  • Forestry, fishing, mining, quarrying, oil and gas : Change of 700 workers ( increased by 4.02 %).
  • Accommodation and food services : Change of 500 workers ( increased by 14.29 %).
  • Other services (except public administration) : Change of 500 workers ( decreased by 15.15 %).
  • Health care and social assistance : Change of 400 workers ( increased by 5.26 %).
  • Agriculture : Change of 300 workers ( decreased by 15.79 %).
  • Construction : Change of 300 workers ( decreased by 3.66 %).
  • Information, culture and recreation : Change of 300 workers ( decreased by 14.29 %).

These industries saw the largest month-over-month changes, indicating short-term trends.

Economic region

Top 5 Industries by Change from Same Month Last Year

  • Information, culture and recreation : Change of 1,800 workers ( increased by Inf %).
  • Finance, insurance, real estate, rental and leasing : Change of 1,500 workers ( increased by 88.24 %).
  • Educational services : Change of 1,200 workers ( decreased by 20 %).
  • Forestry, fishing, mining, quarrying, oil and gas : Change of 1,100 workers ( decreased by 5.73 %).
  • Accommodation and food services : Change of 1,100 workers ( increased by 37.93 %).

The year-over-year changes provide insights into longer-term shifts, highlighting industries that have grown or declined significantly.

Economic region

Conclusion

Employment has seen a decline over the year, highlighting some challenges in the job market. Key industries driving the trend are: Forestry, fishing, mining, quarrying, oil and gas, Construction, Wholesale and retail trade, Educational services, Health care and social assistance.

Employment rate Provincial Comparison

Among 63 small areas in Alberta, Lac la Biche County ranks 26th with an employment rate of 58.3%. The provincial range is 40.0% to 67.5%, with half of areas between 53.7% and 60.5% (median: 57.6%).

Unemployment rate Provincial Comparison

Among 63 small areas in Alberta, Lac la Biche County ranks 51st with an unemployment rate of 7.4%. The provincial range is 3.8% to 10.6%, with half of areas between 5.4% and 6.5% (median: 5.8%).

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