As I was driving into work, I noticed all the “help wanted” signs on store windows, restaurants, and warehouses - What a change from the last couple of springs! What happened in the last year?
We know the unemployment rate has consistently fallen since last summer. We are currently sitting around a 5.7 percent unemployment rate, which is very close to a balanced labour market. This low rate means that low level pay scale jobs will be more difficult to fill as better paying jobs become more readily available, leading companies to compete for talented candidates.
Oil prices have also risen over the past year. The price of gas upsets most consumers, especially those who live paycheck to paycheck. I am very happy to see oil and gas prices rising, because it means companies are succeeding, increasing revenues and increasing spending, which also means more jobs for Albertans!
Last Easter we were still in recovery, beginning to balance, but certainly not growing. The Easter before last, I was completely panicking about business. Our revenue was dropping and no one was hiring. But, here we are, a true celebration for me, for my competitors, and for businesses now ready to hire once again.
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