The unemployment rate is the percentage of the labour force presently unemployed.

In 2017, the unemployment rate in Alberta was 7.9 percent. 



The unemployment rate is a closely-watched indicator of economic health because of the direct relationship among unemployment, the labour force, and the economy:
  • When the unemployment rate falls and the size of the labour force does not decrease, the economy is improving.
  • When the unemployment rate falls and the size of the labour force decrease, the economy remains static.
  • When the unemployment rate rises, regardless of the size of the labour force, the economy is getting weaker.

The unemployment rate is a leading indicator for predicting a recession. Generally, it increases during a recession. The unemployment rate is a lagging indicator for predicting economic growth. Generally, it decreases during economic growth.

2017 saw the lowest unemployment rate in Canada since 1976, and the lowest unemployment rate in Alberta since 2015.