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Regional Unemployment Drops to 8.3% in May

The unemployment rate in the Wood Buffalo-Cold Lake region dropped a third of a percent in May, giving the area a lower rate than both Edmonton and Calgary.

The region now sits at 8.3 percent unemployment, down dramatically from 9.5 at the same time last year. For comparison, Edmonton is currently sitting at 8.4 and Calgary at 9.1.

Overall it was a solid report for the province and the nation as a whole, Alberta gained 19,000 full time jobs in May but lost 18,000 part time. However, the province still has the third highest unemployment rate in Canada, behind only Newfoundland (14.2 per cent) and New Brunswick (8.9 per cent).

Nationally the Canadian job market has ticked down to 6.6 percent. An increase of more than 105,000 full-time jobs offset a decline of nearly 90,000 part-time jobs. In the past 12 months, 288,000 jobs have been added.

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The current national jobless rate is tied with its lowest level in nearly a decade.

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