Alberta's labour market has staged a remarkable and historic rebound, with the provincial unemployment rate experiencing its most dramatic monthly decline in nearly half a century outside of a pandemic recovery period.
A Historic Drop in Joblessness
According to the latest data from Statistics Canada, Alberta's unemployment rate fell sharply to 6.5 per cent in November 2025, down from 7.8 per cent just one month earlier in October. This drop of 1.3 percentage points represents the single-largest monthly decline since comparable record-keeping began in 1976, excluding the volatile period of the 2020-21 pandemic recovery.
The province's economic landscape has transformed rapidly since the summer. The jobless rate has fallen almost two full percentage points from its recent peak of 8.4 per cent in August. This reversal comes after concerning jumps in unemployment during July and August, which had seen rates climb by 1.6 percentage points.
Three-Month Job Creation Spree Powers Growth
The driving force behind this plunge in unemployment is a powerful three-month wave of job creation. In November alone, the Alberta economy generated more than 28,000 new positions. This impressive figure accounted for over half of all new employment gains across the entire country for the month, a significant feat considering ongoing challenges like weak oil prices.
This November performance was not an isolated event. It capped off a strong quarter that began with a gain of 42,500 jobs in September, followed by an addition of more than 10,000 positions in October. In total, over the past three months, Alberta has seen job growth exceeding 80,000 new roles.
Economists highlight that this recent labour market liftoff has been primarily fuelled by the private sector, a sign of underlying economic strength beyond public stimulus.
Economists Express Cautious Optimism
The strength and speed of the recovery have taken many analysts by surprise. Mark Parsons, chief economist at ATB Financial, confirmed the historic nature of November's decline, noting such a sizable drop outside of a pandemic has never been recorded in the modern data set.
"It is very significant, and it's reassuring for those who are struggling to look for work. What I am looking for is that it persists," Parsons stated. He acknowledged the data has been volatile but pointed to three consecutive strong months as a potential trend. "There are reasons still to be cautious about these gains continuing at the current rate, but we need to acknowledge that this is much stronger than almost anyone was expecting," he added.
Charles St-Arnaud, chief economist with Servus Credit Union, described the latest employment report as "surprisingly strong." He noted, "The labour market has been more resilient than expected." However, he also voiced a note of caution, wondering if some statistical "payback" might occur in the coming months after such a robust period.
For Albertans who endured a dip in employment and mounting concerns over commodity prices and tariffs during the summer, the emergence of tens of thousands of new jobs and a rapidly falling unemployment rate is a welcome and encouraging reversal of fortune.
