Tuesday, March 9, 2010

Is Calgary's Job Market Improving?

Are things getting better in Calgary? Is the local economy on the rise again. Some claim that it is, others are not so optimistic.

There may be some employers who are adding more people to their payroll, but for the most part, the city's economic engine is still stalled in the middle of 'Recession Street'. Fact is, Calgary is not doing so well, it certainly is not the attractive job market it once was.

I don't think that the new graduates from U of C, SAIT and Mount Royal will have an easy time landing a job. They may have to work at their local Safeways and Borders' to pay their bills (and the student loans).

I have been working in Fort McMurray for the last 6 months and if the job market up here is any indicator of the overall provincial - and even national - economy, then there isn't much reason to be hopeful. Companies like Suncor and Syncrude have been laying off people lately and there is much more competition as an increasing number of migrants from Newfoundland and other eastern provinces make their way to the Oil Sands region.

Unless there is more investment in new projects from big corporations and until banks change their tight lending policies, the gap between the number of posted jobs and people looking for them will stay large. In fact, that gap may be the only thing that grows in the year 2010.

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