Alberta’s unemployment rate is projected to rise to 7.4% this year and stay above 7% for the next two years, despite strong job growth in late 2024.
The 2025 Budget Fiscal Plan cites fewer job vacancies and weaker business activity as reasons for the slowdown. Employment growth is expected to drop to 1.9% in 2025, down from 3.1% in 2024.
Finance Minister Nate Horner says U.S. tariffs could further impact jobs, especially in manufacturing and agriculture, with unemployment possibly hitting 8.1% by 2026 if tariffs remain high.
