Wood Buffalo-Cold Lake Loses Around 2,400 Jobs in May, Unemployment Rate Approaching 10 Per Cent

Wood Buffalo-Cold Lake is seeing another big drop in jobs month-over-month.

According to Statistics Canada’s labour force survey for May, the region lost around 2,400 positions.

This after losing 3,000 jobs in April.

Since February, Wood Buffalo-Cold Lake has lost 5,900 positions.

The accommodation and food sector, healthcare and social assistance sector, and professional, scientific, and technical services sector all lost around 500 jobs.

The forestry, fishing, mining, quarrying, oil and gas sector saw the biggest increase, adding around 900 spots.

Meanwhile, the unemployment rate rose from 7.9 per cent to 9.9 per cent.

Provincially and federally, the unemployment rate also increased from last month – sitting at 15.5 per cent and 13.7 per cent respectively.

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