Over the last decade, Alberta's economy has been one of the strongest in Canada. The province enjoys high wages and low unemployment. In 2007, Alberta's unemployment rate fell to 3.6%, below the...
Description
Over the last decade, Alberta's economy has been one of the strongest in Canada. The province enjoys high wages and low unemployment. In 2007, Alberta's unemployment rate fell to 3.6%, below the 5% level that is often used to indicate a balanced labour market. The low unemployment rate in Alberta raised concerns about skill shortages. There are a number of factors that influence skill shortages, one of which is an aging labour force. Although both Canada and Alberta are experiencing an aging labour force, it is unlikely to directly create a widespread skill shortage. Proper planning and collaboration among government, industry and educational institutions may reduce the impact of aging on labour supply although pockets of skill shortages may still occur.